“Why does a financial year begin from April and not from January?” Important Questions and Answers for Class 9, Class 10, Class 11 and Class 12

Why does a financial year begin from April and not from January?

When the first modern budget was presented in the year 1860 the financial year adopted was from May 1 to April 30. However, it was changed to April 1 to March 31 in conformity with the practice in England.