Calculation of income
This query is : Resolved
01 August 2019
Dear Sir
Kindly inform whether the salary of March-19 received in April-19 to be taken in the year 2018-19 or in current financial year with relevant rule provisions( if any.)
Thank you in advance
Kindly inform whether the salary of March-19 received in April-19 to be taken in the year 2018-19 or in current financial year with relevant rule provisions( if any.)
Thank you in advance
05 August 2019
Salary can be considered income on due basis.
Message likes :
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11 August 2019
Thank sir for replying, But sir what if our company is taking the books from March salary Paid in April and Feb Salary paid in March ( so due salary of March-18 to Feb-19 paid in April-18 to March-19 for FY 2018-19) . Now how the company can change this if they want to issue Form-16 on due basis and not on actual basis. Will there be any problem if they continue this pattern on actual basis for their employee. Please answer this query.
27 September 2021
As per recent amendments, the accounts are to be maintained as per mercantile system. So company cannot follow cash method.
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