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Did you checked RBI’s new fiscal year (FY 2019-20)?

It’s the time when everybody has fear in mind about the coronavirus and fighting against it by following the govt circulars. Several other worries are adding to the coronavirus fear, including the job, salary, investments, etc.

This month is always the ending financial year month, and people are requested to file their income tax returns, and several notifications are made to inform the users for the timely submission of taxes.

What are the changes made?

But, with the current situations, this seems really tough. Considering the situation, RBI(Reserve Bank of India) has decided to reschedule the financial year ending month. As per the meeting held in New Delhi, RBI has decided that the current financial year, i.e., FY 2019-20, will now end in the month of June, i.e., 30th June 2020, and the fiscal year (FY 2020-21) will start from 1st July 2020. There is no change in the ending month of this financial year, and it will end on its default month of March, i.e., 31st March 2021. Hence, the fiscal year (FY 2021-22) will have its beginning from 1st April 2021 for a central bank like it starts every year.

Rohit Srivastava
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