Glossary
/Financial Year
Unlike a normal calendar year that starts in January, the Indian financial year strictly runs from April 1st to March 31st. The government and all companies use this specific 12-month window to calculate their total income, expenses, and taxes. When you file your ITR in July, you are actually reporting the money you earned during the previous financial year. Every single economic report, GDP data, and corporate earnings release you read about is tied to this April-to-March timeline instead of the regular calendar.