Multiple choice

In India, when does the financial year commence?

  1. First April

  2. First June

  3. First March

  4. Fifteenth March
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A Correct answer
Explanation

The financial year in India commences on April 1st and ends on March 31st of the following year. This is standardized across all government accounting and budgeting processes. The Union Budget is presented on February 1st, just before the new financial year begins.

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