year in which income is taxable is known as ......and in which income s earn is kown as
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Financial year: For tax purposes, financial year (FY) is the year in which you earn your income and also pay taxyour es on this earned income. An FY starts on 1 April and ends on 31 March. So, if you have worked and earned income in 2017-18, it will be considered the financial year.
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