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Before Every Financial year 31st March

Before Every Financial year 31st March

Financial year All the big business establishments and small businesses equally maintain balance sheet and income statement which gives them an idea and record of their income and expenditure. This balance sheet and income statement is maintained for one year. So, the one year in which these businesses earn income is known as Financial / Fiscal year. Government levies taxes and these taxes are paid in the next year after the financial year ends. The next year in which income…

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