Fiscal Year Vs Calendar Year Tax 2023
Here are a few examples: Why use a different fiscal year? Difference calendar year vs financial year vs assessment year for income tax | fy vs ay. Both the fy and ay start from 1st april and end on 31st march.
1 and ending on dec. A calendar year is a regular jan 1 to dec 31 cycle of time period. Each tax year runs from 6 april one year to 5 april the following year. Based on the gregorian calendar, a calendar year lasts 365 days and 366 days during a leap year.