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Difference Between Assessment Year (AY) and Financial Year (FY)

Umasfintax04 Nov, 2024Business

There is often confusion among taxpayers regarding the distinction between the Financial Year (FY) and the Assessment Year (AY). This misunderstanding can result in errors when filing income tax returns. It is important for taxpayers to understand the difference between these two terms in order to accurately report their financial information to the tax authorities.

Difference Between Assessment Year (AY) and Financial Year (FY)

Umasfintax24 Oct, 2024Business

There is often confusion among taxpayers regarding the distinction between the Financial Year (FY) and the Assessment Year (AY). This misunderstanding can result in errors when filing income tax returns. It is important for taxpayers to understand the difference between these two terms in order to accurately report their financial information to the tax authorities. FINANCIAL YEAR A financial year (FY) is a 12-month period that runs from April 1st to March 31st. It is the designated accounting year during which you generate income or accounts are maintained.

Turning your financial data into valuable insights

Umasfintax17 Jul, 2024Business

UMAS FINTAX SOLUTIONS LLP is a leading Tax and Accounting Consulting firm started in 2018 as UMAS & Co by a team of passionate and highly experienced professionals, including Chartered Accountants (CA), Company Secretaries (CS), and Tax Experts. Later in the year 2020, the firm converted to a registered LLP firm under the Ministry of Corporate Affairs of India. Over the past five years, we have grown from a small business to a thriving enterprise that has served hundreds of clients.

umasfintax tax advisers

Umasfintax28 Jun, 2024Business

UMAS FINTAX SOLUTIONS LLP is a leading Tax and Accounting Consulting firm started in 2018 as UMAS & Co by a team of passionate and highly experienced professionals, including Chartered Accountants (CA), Company Secretaries (CS), and Tax Experts. Later in the year 2020, the firm converted to a registered LLP firm under the Ministry of Corporate Affairs of India. Over the past five years, we have grown from a small business to a thriving enterprise that has served hundreds of clients.

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Umasfintax

Difference Between Assessment Year (AY) and Financial Year (FY)

Difference Between Assessment Year (AY) and Financial Year (FY)

Turning your financial data into valuable insights

umasfintax tax advisers

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