the Qs
the Qs
I just joined Infosys recently and I am a complete fresher in income tax. What does assessment year and financial year mean?
In India, there are three types of years. There are normal birthdays that you celebrate. That is the year that you consider aging is called the calendar year. It starts from Jan and ends in December. The next financial year. This is the year starting from April and ending in March. The current financial year starts from April 2024 and ends in March 2025. The year in which you pay income tax on the income that you have earned in the previous year. That is called the assessment year. This comes right after the financial year. So it starts from April 2025 and ends at March 2026
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the Qs
I just joined Infosys recently and I am a complete fresher in income tax. What does assessment year and financial year mean?
In India, there are three types of years. There are normal birthdays that you celebrate. That is the year that you consider aging is called the calendar year. It starts from Jan and ends in December. The next financial year. This is the year starting from April and ending in March. The current financial year starts from April 2024 and ends in March 2025. The year in which you pay income tax on the income that you have earned in the previous year. That is called the assessment year. This comes right after the financial year. So it starts from April 2025 and ends at March 2026
Get access to Personal Finance Insights you will actually want to read!
Join 12,000+ readers who receive practical and actionable insights decoding Personal Finance right to their mail box to learn all about money!
No Spam. Only Finance
No Spam. Only Finance
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Case Studies
This isn’t a normal masterclass. You will get a comprehensive hands-on experience of various “Tax Strategies” with our proven case-study based approach.
Get access to in-house built powerful Old vs. New Tax regime calculator, tax handouts, and more.
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