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India planning to change financial year to Jan-Dec

India planning to change financial year to Jan-Dec

Financial year in India could soon be same as the calendar year as Narendra Modi government is considering changing the fiscal year to January-December to coincide with the calendar year. The matter has been examined recently by a committee constituted by the government under the chairmanship of Shankar Acharya. A change in the financial year will require amendments to various statues including tax laws during the transitional period.

read more at Economic Times

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