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?

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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
Rectangle 5937

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!
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Recent Posts

Should you buy or rent a house?

It's been a hot topic since 1990's and still none of us know the exact difference or what's the right choice. Let's change that!

Expense Ratio

An explainer on how a small charge called the expense ratio can quietly eat into your mutual fund returns—especially over the long run.

How the rich save taxes?

A peek into how the rich save taxes—featuring smart strategies explained with examples to help you keep more of what you earn.

Direct or Regular Mutual fund—which one should you pick?

Mutual funds sound simple, right? But wait—there’s a sneaky choice hiding in there! Let’s unravel this mystery and set you up for the win!

ETF

An explainer on Exchange Traded Funds (ETFs), covering their types, how they work, and an example of an investment journey.

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Tax Saving Strategy, Personal finance course, Finance with Dime, Financial freedom guide, Wealth-building strategies, Investing tutorials, Financial planning tools, Interactive finance classes, Finance community app, Master personal finance, Step-by-step guide to financial freedom,Tax-saving strategies', Mutual fund SIP guide, Income tax calculator,Best investment plans for 2024, NPS tax benefits, HRA tax exemption guide,Equity vs. debt mutual funds, How to file ITR online, Tax-free income sources, Old vs. new tax regime comparison, Top-performing SIPs in India, Retirement planning tips, Financial planning for millennials, Budgeting tips for professionals, Government schemes for senior citizens

Why join Dime's Tax Strategy Masterclass?

Comprehensive

Practical

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.
Thousands have benefited you can too!
Enroll Now

2000+ People have already saved Taxes

Tax Saving Strategy, Personal finance course, Finance with Dime, Financial freedom guide, Wealth-building strategies, Investing tutorials, Financial planning tools, Interactive finance classes, Finance community app, Master personal finance, Step-by-step guide to financial freedom,Tax-saving strategies', Mutual fund SIP guide, Income tax calculator,Best investment plans for 2024, NPS tax benefits, HRA tax exemption guide,Equity vs. debt mutual funds, How to file ITR online, Tax-free income sources, Old vs. new tax regime comparison, Top-performing SIPs in India, Retirement planning tips, Financial planning for millennials, Budgeting tips for professionals, Government schemes for senior citizens

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