Financial Year 2025 Means. As we step into the new financial year, taxpayers and organisations need to keep track of important deadlines in the income tax calendar for. In certain circumstances, the financial year may vary from the.

It starts on the 1st of april of the calendar year & ends on the 31st of march of the next calendar year. In simple terms, financial year is the year in which the income is earned and assessment year is the year in which the income is assessed to tax and all taxes are paid & tax returns filed.