arrear of salary
This query is : Resolved
21 February 2008
Increment for the month of Jan-Mar'08 will be received in the month of Apr'08.
Plz clarify it will be taxeble in which assessment year i.e. 2007-08 or 2008-09.
Thanks,
Plz clarify it will be taxeble in which assessment year i.e. 2007-08 or 2008-09.
Thanks,
21 February 2008
ARREARS OF SALARY IS TAXABLE IN THE YEAR OF RECEIPT THEREFORE IT IS TAXABLE IN 2008-09.BUT IF IT IS AGREED THAT THE PAYMENT WILL BE MADE IN APRIL BUT DECIDED IN THE PREVIOUS YEAR 2007-08 THAN IT IS TAXABLE IN 2007-08 ON DUE BASIS
21 February 2008
If it is already a committed amount, it will fall under the category of salary due. You have to clarify this aspect.
08 March 2008
On accrual basis in the year 2007-08
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