When does the tax year end?

[Alexender]

Hi everyone,
I’m trying to understand when does the tax year end and how it affects tax filing and planning. Can someone confirm the exact end date and explain what needs to be done before the tax year closes?

 

[tito]

It depends on the country. In the United Kingdom, the tax year ends on 5 April. In the United States, it ends on 31 December. Many other countries follow the calendar year, but some use different fiscal year dates.

 

[Daxton]

In India, the tax year ends on 31st March each year. Income earned from 1st April to 31st March is assessed for taxation in the following assessment year under Indian income tax laws.

 

[Zoe]

The end of the tax year differs a lot from one country to another. For instance, it is usually December 31 for individuals (e.g. US, Germany). Nevertheless, it is April 5 in the UK, March 31 in India and Canada, and June 30 in Australia. It is always better to find out the exact date from your local tax authority.

 

[James Miller]

In the UK, the year of taxation is 5 April every year. In most other nations, such as in the US, the year of taxation is usually ended on 31 December.

 

[MitchelThe]

The country relies on the tax year end. The tax year in the United States runs up to the 31 st of December. The tax year (financial year) in India is ending on March 31. Subject to the law of taxation, businesses are also allowed to select an alternate fiscal year.

 

[Benjamin]

In the United States, the tax year usually ends on December 31 for individual taxpayers. Income earned from January 1 through December 31 is reported for that tax year, with tax returns typically due by April 15 of the following year.