Financial Year vs Assessment Year: The Difference Explained
FY 2025-26 income gets assessed in AY 2026-27, not FY 2026-27. Here's exactly how financial year, assessment year, and the new tax year label fit together.
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FY 2025-26 income gets assessed in AY 2026-27, not FY 2026-27. Here's exactly how financial year, assessment year, and the new tax year label fit together.