09 Feb, 2025

Difference between Advance Tax & Self-Assessment Tax

Taxes can be confusing if you don’t understand them. Therefore, it is always better to have the clarity to avoid any penalties. This blog will help you understand the difference between the two important taxes- Advance Tax and Self-Assessment Tax. Advance Tax: It is the tax that is paid by a person during the current […]

2 mins read

Difference between Assessment Year (AY) and Financial Year (FY)

Many Taxpayers get confused between the terms “Assessment Year (AY)” and “Financial Year” (FY). This confusion leads to mistakes while filing their Income tax returns. Hence it is very important to understand the difference between the two. As per Income-tax Act 1961: Financial Year:  Financial Year (FY) is the period between 1 April and 31 […]

1 min read