About the Financial Year Finder
India's financial year runs from 1 April to 31 March, so a date in January belongs to the financial year that began the previous April. That is easy to say and surprisingly easy to get wrong on an invoice series, a tax challan, a TDS return or a loan application. Enter any date and this tool names its financial year, assessment year and quarter.
Under the Income-tax Act, 1961, income earned in a financial year is assessed in the following year, called the assessment year: income of FY 2025-26 is reported in AY 2026-27. The Income-tax Act, 2025, which applies from 1 April 2026, replaces this pair of terms with a single tax year. The tool shows the traditional label and flags the new one where it applies.
Quarters follow the same April start: Q1 is April to June, Q2 July to September, Q3 October to December and Q4 January to March. They drive TDS returns, advance tax instalments and most management reporting. The tool also counts the days left in the quarter and in the financial year, which helps when planning purchases, investments and filings before 31 March.
How to use it
- 1Pick a date — it defaults to today. Use the invoice date, payment date or any date you need to classify.
- 2Read the financial year, the assessment year and the quarter in the three boxes.
- 3Check the lines below for the exact start and end dates and the days remaining in the quarter and the year.
- 4Press Back to today to return to the current date.
How this is calculated
A date from April to December belongs to the financial year that starts in that calendar year: 20 September 2026 → FY 2026-27. A date from January to March belongs to the financial year that started in the previous calendar year: 15 February 2027 → FY 2026-27. Assessment year = the financial year that follows. Quarters: Q1 Apr–Jun · Q2 Jul–Sep · Q3 Oct–Dec · Q4 Jan–Mar. Days left = 31 March of that financial year − the chosen date.
Frequently asked questions
What is the difference between financial year and assessment year?
The financial year is the twelve months from 1 April to 31 March in which income is earned. The assessment year is the year immediately after it, in which that income is reported and assessed. Income earned in FY 2025-26 is therefore filed in AY 2026-27. Forms and challans ask for one or the other, so read the label carefully.
What is the tax year under the new Income-tax Act?
The Income-tax Act, 2025 applies from 1 April 2026 and uses one term, tax year, for the twelve months beginning 1 April, instead of the previous year and assessment year pair. The period itself is unchanged. Earlier years continue to be described by assessment year, so you will see both labels for some time.
Which quarter does a date fall in?
Quarters are counted from April. Q1 covers April to June, Q2 July to September, Q3 October to December and Q4 January to March. A payment made on 20 September 2026 therefore belongs to Q2 of FY 2026-27. Quarterly TDS statements and many management reports follow this pattern.
Why does India's financial year start on 1 April?
The April to March year has been followed by the government for its budget and accounts for well over a century, and the income-tax law adopts the same period for taxpayers. Companies may use a different accounting period only in limited cases, so for almost every Indian business the books close on 31 March.
What should I finish before 31 March?
Typical year-end tasks include tax-saving investments if you use the old regime, the last advance tax instalment due by 15 March, settling dues to micro and small suppliers, reconciling GST credits and closing the books. The days-left counter helps you plan, but check each due date on the official portal.