A Financial Year (FY) is the 12-month accounting period used by individuals, companies, and the government to manage income, expenses, and taxes. In India, it starts on April 1st and ends on March 31st of the following year.
This cycle ensures proper tax filing, accurate income tracking, and compliance with government regulations. Whether you’re managing business finances or personal savings, aligning with the financial year helps you plan effectively and meet all statutory obligations.
A well-planned financial year starts with secure savings. With Bajaj Finance Fixed Deposits, you can grow your wealth confidently while earning assured returns and flexible payout options. Open FD.
What is the significance of the financial year
The financial year plays a vital role in shaping a country’s economic structure and in helping individuals and businesses maintain order in their financial activities.
- Government planning and budgeting: The government uses the financial year to evaluate revenues, expenses, and policies, enabling effective economic planning.
- Taxation: Both individuals and companies must file tax returns based on the financial year, ensuring transparency and compliance.
- Financial reporting: Businesses prepare balance sheets, profit and loss statements, and annual reports according to the FY to assess financial performance.
- Performance evaluation: Aligning operations with the FY helps organisations measure progress and set future goals efficiently.
Align your savings goals with the financial year — start an FD before March 31st to maximise annual earnings. Bajaj Finance FDs offer assured returns and flexible tenors up to 60 months, making it ideal for long-term planning.
