The standard calendar quarters that make up the year are as follows: January, February, and March (Q1) April, May, and June (Q2) July, August, and September (Q3)
In this way, what are financial quarters?
A quarter refers to one-fourth of a year, which is 3 months. As per the Indian Financial Year 01st April - 30th June is the 1st Quarter, 01st July - 30th Sep is the 2nd Quarter, 01st October - 31st December is the 3rd Quarter and 01st Jan - 31st March is the 4th Quarter.
Also to know, what are the quarters for 2020?
America the Beautiful Quarters 2020 Proof Set
- National Park of American Samoa (AS)
- Weir Farm National Historic Site (CT)
- Salt River Bay National Historical Park and Ecological Preserve (VI)
- Marsh-Billings-Rockefeller National Historical Park (VT)
- Tallgrass Prairie National Preserve (KS)
What is q1 q2 q3 q4?
Note: Q1, Q2, Q3 & Q4 denote - April to June, July to September, October to December and January to March quarters, respectively.
Why is 1st April financial year?
India being an agricultural economy, revenue generally depends on the unpredictable outcome of the main crop being ripe in February / March. India enacted the Income-Tax Act in 1961. The Act came into force from April 1, 1962 and that's why our financial year begins on April 1 every year.