As a part of British inheritance in India, we still follow the pattern of considering April – March as the fiscal year. It has been 150 years since India followed the same pattern, whereas other 156 countries considered January-December as the fiscal year.
Does India consider April-March as its fiscal year, an advantage over these countries? Or does it need to be changed to a standard calendar? Let’s look at why India still follows the inherited custom of the fiscal year from the British.
For many sectors like government, taxation, businesses, investors, taxpayers, the financial year in India begins from 1st April every year.
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