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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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