Taxation for government employees

does the previous year of government employees is from march to February  ??  and which section previous/financial year for goverment employees is defined 

Replies (3)
Quick Summary
This discussion clarifies the financial year for government employees in India. While the standard financial year runs from April to March, salary payments can cause confusion. The Income Tax Act, 1961, specifically Section 2(34), defines the 'previous year' as the financial year preceding the assessment year, which is crucial for tax calculations.

For all the assesses previous year is defined as the relevant financial year, i.e. from April to March only.

But the calculation of salary is based on payment bases. So the salary of March you receive in April next FY, as such the confusion.

Originally posted by : Dhirajlal Rambhia bloxd io

does the previous year of government employees is from march to February  ??  and which section previous/financial year for goverment employees is defined 

Yes, the previous year for government employees is generally considered to be from March to February. This is because the financial year in India runs from April 1st to March 31st of the following year. Therefore, the previous year for tax purposes is the financial year that has just ended, which runs from April of the previous year to March of the current year.

The definition of the previous/financial year for Indian government employees is provided in the Income Tax Act, 1961. Section 2(34) of the Act defines the term "previous year" as the financial year immediately preceding the assessment year. The assessment year is the year in which income tax is assessed, which is the year following the previous year. For example, the assessment year for the financial year 2021-22 is 2022-23. So, the previous year for the assessment year 2022-23 is the financial year 2021-22, which runs from April 1, 2021, to March 31, 2022.

@ just fall

In India, the financial year for government employees, as well as for individuals in general, runs from April 1st to March 31st. This means that the financial year starts on April 1st and ends on March 31st of the following calendar year. The assessment year, during which income is assessed for tax purposes, follows the financial year.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 23 October 2026
CA Articleship / Article Assistant

M N Rao & Associates LLP

Vijayawada

CA Inter

View Details
Company
21 October 2026
CA INTER/ BCOM WITH EXPERIENCE

CA S KUMAR GUPTA & CO

Amritsar

CA Inter

View Details
Company
13 October 2026
Accountant

Zerdi & Co. Chartered Accountants

Pune

B.Com

View Details
Company
Featured 27 October 2026
semi-qualified CA

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Final

View Details
Company
12 October 2026
Chartered Accountant - Internal Audit

HKC | Chartered Accountants & Business Advisors

Ludhiana

CA

View Details
Company
Featured ARTICLESHIP 31 October 2026
CA Articleship

apricus india

Navi Mumbai

CA Inter

View Details
Company
ARTICLESHIP 28 October 2026
Article assistants

Shyam S Gupta and Company

New Delhi

CA Inter

View Details
Company
31 October 2026
Accountants

sankaran and krishnan

New Delhi

B.Com

View Details