Fiscal Year | News and HQ Photos Gallery

Fiscal year

Indian Income Tax Rates – Slabs for Financial Year (2011-12)

Published February 28, 2011 | By Amresh

Indian Income Tax Rates – Slabs for Financial Year (2011-12)

Applicable – From 01 April 2011 to 31 March 2012

Slab (Rs.)                                Tax (Rs.)
less than 1,80,000               Nil
1,80,001 to 5,00,000           10%
5,00,001 to 8,00,000          … Continue reading →

Posted in News | Tagged Finance, Finance Minister, Fiscal year, Income tax, Pranab Mukherjee, Tax | 1 Comment

Why the Indian financial year starts from April?

Published February 28, 2011 | By Amresh

1) The Income-Tax Act was enacted in 1961. The Act came into force from April 1, 1962 and that’s why our financial year begins on April 1 every year.

2) So that accounting year doesn’t coincide with the periods of… Continue reading →

Posted in News | Tagged Economy, Fiscal year, Income tax, New Year's Day, Pranab Mukherjee, Tax | Leave a comment