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Businesses likely to face challenges in preparing financial reports in FY21

The spillover of compliance requirements from FY20 to FY21 makes experts wary of the ripple effect on business financials

Coronavirus | financial year | Lockdown

Sudipto Dey 

companies, financial year
As corporate India takes uncertain steps into a new financial year, experts say resources of businesses would be stretched to manage various compliances (Illustration: Ajay Mohanty)

On April 1 every year, businesses unroll their budgets and targets for the new . This -- FY21 -- is different. As a relief from the pandemic situation, some compliance requirements of the previous (FY20) split over to the new one, at a time when business sentiment is at a record low.



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First Published: Sun, April 05 2020. 23:16 IST