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Which of the following is the correct duration of ‘Financial Year 2022-23’ in India?
Question

Which of the following is the correct duration of ‘Financial Year 2022-23’ in India?

A.

1 January 2022 to 1 January 2023

B.

30 April 2022 to 1 March 2023

C.

30 April 2022 to 31 March 2023

D.

1 April 2022 to 31 March 2023

Correct option is D

The correct answer is (d) 1 April 2022 to 31 March 2023.
 In India, the financial year runs from 1 April of a given year to 31 March of the following year. This period is used for accounting and taxation purposes by individuals, businesses, and the government. The financial year 2022-23 begins on 1 April 2022 and ends on 31 March 2023.
Information Booster:
Financial Year: This is the period used for calculating annual financial statements in businesses and organizations.
Accounting and Taxation: All financial transactions are tracked, and tax returns are filed based on the financial year.
Government Budget: The financial year is critical for the planning and execution of the government's budget, which is usually presented in February each year.

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