Arrear of salary
This query is : Open
Avinash sharma
(Querist)
02 April 2015
Pls tell about the taxability of arrear of salary.
If xyz co. had stopped working in the year 2000 and now company has been taken over by ABC co. Now in 2015 ABC co. Pays compensation as Arrear of salary to the employee of XYZ co. then,,
1. Taxabilty of such income in the hands of employee?..
2. is the ABC co. liable to deduct TDS on such income?
If xyz co. had stopped working in the year 2000 and now company has been taken over by ABC co. Now in 2015 ABC co. Pays compensation as Arrear of salary to the employee of XYZ co. then,,
1. Taxabilty of such income in the hands of employee?..
2. is the ABC co. liable to deduct TDS on such income?
02 April 2015
1) Taxable in the hands of Employee under the head Income from Salary as per applicable slab.
2) Yes ABC Co. Is liable to deduct TDS as per the provisions of Section 192.
2) Yes ABC Co. Is liable to deduct TDS as per the provisions of Section 192.
CA AnKiT BoHrA (AB)
(Expert)
03 April 2015
no doubt, it wil b taxable in the hand of employee only.. and co. had to deduct TDS as per his salary
Avinash sharma
(Querist)
05 April 2015
Thnx 4 rply
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