No change in financial year, clarifies Centre

No change in financial year

The centre through a notification clarified that there is no change or extension in the financial year from April 1 to July 1.

No change in financial year

The beginning of the fiscal year (2020-21) would begin normally on April 1, said the centre in its notification.

The government’s clarification comes after a Gazette notification, which claimed a change in dates for collection of stamp duties, was doing the rounds in some media.

The Reserve Bank of India has made an announced pertaining to the change in date much earlier, on February 15, to align its financial year with the government’s as recommended by RBI’s board.

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