a company's fiscal year must correspond with the calendar year.. The calendar year is favorable for companies whose business cycle is complete. Fiscal year also consists of 12 — months period but that must be parallel or align with calendar year, starting from 1 january and ends on 31 december.

a company's fiscal year must correspond with the calendar year. So, if their fiscal year ends on march 31, they would need to file their return by june 15. The fiscal year, also known as the financial year, is a period of one year used by companies and. Fiscal year also consists of 12 — months period but that must be parallel or align with calendar year, starting from 1 january and ends on 31 december.