Understanding the Assessment Year vs. Financial Year: A common point of confusion for many taxpayers is the distinction between the "Financial Year" (FY) and the "Assessment Year" (AY). The Financial Year is the period during which income is earned (e.g., April 1, 2024, to March 31, 2025). The Assessment Year is the year immediately following the financial year, in which the income ea... https://nipunhub.com