Why financial year start from 1st april in india?

because they are not americans

because they finish all the accounts in the industry only in march 31st.

It's a leftover from the Raj.

India is an agrarian economy and the crop patterns anr kharip and rabbi. The kharip starts in the month of April and the second pattern i.e.rabbi ends in the month of March. Hence the financial year set for to start from 1st April.

Snk, i never saw it that way.....beginning of a new harvest

its related to April fool day ! ! ! ???
Ok, its British tradition, i think

It is because of British people ruled our country. Many British practices are still in force. Some time back there was a talk to change the financial year to full years. Afterwards there is no news.

It is truly a disadvantage. Every time to mention two years for a financial year or Assessment Year.

Also left hand drive. This is also because of British rule.

It is related to cropping pattern of rabi and khariff.
The budgets were formulated dependin gupon the noth west monsoons

1) The Income-Tax Act was enacted in 1961. The Act came into force from April 1, 1962 and that's why our financial year begins on April 1 every year.

2) So that accounting year doesnt coincide with the periods of high activity, such as Christmas and New Year.

3) Inventories are higher during December end, thus making it difficult to measure accurately.

4) India being an agricultural economy, revenue generally
depends on the unpredictable outcome of the main crop being ripe in feb./march.