Financial Year Change in India
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India could shift to a January to December financial year from 2018, as the Centre appears set to make the historical transition to end the 150-year-old tradition of an April to March fiscal.
The financial year from 1 April to 31 March, currently in vogue nationally, was adopted in 1867 principally to align the Indian fiscal with that of the British government. Till then, the financial year in India used to commence on 1 May and end on 30 April of the following calendar year.
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