Financial Year (FY)
India's tax and accounting year, running from 1 April to 31 March, distinct from the calendar year most other countries use.
The financial year is the twelve-month period from 1 April to 31 March that Indian tax law, company law, and most business accounting are built around, rather than the January-to-December calendar year used in many other countries. FY 2025-26 runs from 1 April 2025 to 31 March 2026.
Nearly every compliance deadline in India, tax filing, GST returns, TDS deposits, ROC filings, is anchored to this cycle, which is why year-end closing activity concentrates so heavily in the weeks around 31 March rather than 31 December.
This glossary entry is for general informational purposes only and does not constitute professional tax, legal, or financial advice. Rules and rates change, so consult a qualified Chartered Accountant for advice specific to your situation.