A fiscal year is used in government accounting, which varies between countries, and for budget purposes. It is also used for financial reporting by businesses and other organizations. Laws in many jurisdictions require company financial reports to be prepared and published on an annual basis but generally with the reporting period not aligning with the calendar year. Taxation laws generally require accounting records to be maintained and taxes calculated on an annual basis, which usually corresponds to the fiscal year used for government purposes. The calculation of tax on an annual basis is especially relevant for direct taxes, such as income tax. Many annual government fees—such as council tax and license fees, are also levied on a fiscal year basis, but others are charged on an anniversary basis.

കലണ്ടർ വർഷത്തിൽ നിന്നും വ്യത്യസ്തമാണ് ഇന്ത്യയിൽ ധനകാര്യ വർഷം. ഏപ്രിൽ 1 മുതൽ മാർച്ച് 31 വരെയാണ്. സാമ്പത്തിക കണക്കുകൽ ഈ കലണ്ടർ അനുസരിച്ചാണ് വരുന്നത്.