Fiscal year News

According to the survey, about 47 per cent of participants expected the government to meet the fiscal deficit target of 4.9 per cent for FY 2024-25 and another 24 per cent reported that the government could improve and report a lower fiscal deficit number for the current year. 

As per the Reserve Bank of India (RBI), the Indian financial system remains resilient and is gaining strength from broader macroeconomic stability.

Flipkart attributed the decline in valuation to the demerger of fintech firm PhonePe into a separate company. 

Corporate tax collection grew by 34% in first four months of FY 2022-23. Corporate tax collections during FY 2021-22 stood at ₹ 7.23 lakh crore registered growth of over 58 %. The positive trend continues except FY 2020-21 due to Covid-19 pandemic.

India currently follows the traditional April-March financial year.

India`s fiscal deficit touched 4.42 trillion rupees ($68.88 billion) during April-June period or 80.8 percent of the budgeted target for the current fiscal year that ends in March, government data showed on Monday.

Zee Entertainment Enterprises Ltd (ZEEL) on Wednesday reported an over six-fold jump in its consolidated net profit at Rs 1,514 crore for the fourth quarter to March, aided by the sale of its sports business.

Prime Minister Narendra Modi on Sunday pitched for conducting simultaneous elections to the Lok Sabha and the state assemblies and shifting to a January- December fiscal year.

Pakistan may not get the remaining USD 350 million of the USD 900 million coalition support fund from the US as it has not done enough against the dangerous Haqqani terror network to get the required certification from the Defence Secretary, officials said.

The government is examining the report of a committee which has recommended change in the financial year starting April 1, Finance Minister Arun Jaitley said on Friday.

From the next fiscal year, that is from today, a lot of things of your daily needs as well as things of your comfort are going to get dearer.

President Donald Trump`s proposed 28 percent budget cut for U.S. diplomacy and foreign aid next year would preserve $3.1 billion in security aid to Israel but reduce funding for the United Nations, climate change and cultural exchange programs.

It is mandatory for individuals and companies to file income tax return at the end of a financial year on the income earned in the entire year. Different forms for return of income are prescribed for filing of IT returns for different status and nature of income.

Paytm-backed supply chain automation firm LogiNext Solutions looks to treble its revenue next fiscal to USD 3 million (about Rs 20 crore) and plans to increase its shipments four-fold to 2 lakh per day, a top company official said