Title: Difference between Financial year (FY) & Assessment year (AY) - PowerPoint PPT Presentation

Description: The calendar year in which you received your money is known as the financial year. It starts on April 1 of every calendar year and lasts until March 31 of the following year. The letter "F.Y." is sometimes used to shorten the term "financial year." For the fiscal year, an assessee must calculate and prepare taxes; nevertheless, the income tax return must be submitted the next year, or the Assessment Year. – PowerPoint PPT presentation