Annual Budget

Tax Glossary Definition

Annual Budget

A comprehensive financial plan that projects an organization’s expected revenues and expenditures for a fiscal year. It serves as a tool for financial control, effective resource allocation, and performance evaluation. The budget may also be accompanied by statements such as the balance sheet and cash flow statement to present the company’s overall financial outlook.

Example: A business drafts an annual budget estimating ₹50 lakh in income and ₹40 lakh in expenses to guide operations and financial decisions for the upcoming year.

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