Day of Salary Falls -Ist or last .....practicle problem

This query is : Resolved

PardeepBassi (Querist)
Follow

01 April 2010 hi dear
pls let me know that if in any Practicle Problem of Income tax Book -Salary Chapter-
In question there is not mentioned about the day of salary falls -what we assume then & why ?
Problem is An employee Joined say 01.01.2009 with Pay of Rs.15000(increment rs 2000 every year)
Then How will be compute salary for the year
2009-10

Pls make me clear

M Prabhakar Menon

M Prabhakar Menon (Expert)
Follow

01 April 2010 Pl rephrase your question

PardeepBassi

PardeepBassi (Querist)
Follow

01 April 2010 Actually what i want to know is that
If someone joins on 01.01.2009 with salary of Rs.15000 pm & there will be increment of Rs.1000 each year .
Now how would it be calculated:
According to -if salary falls on Last day of month
01.04.2009 To 31.12.2009
15000 * 9 = 135000
16000 * 3 = 48000
Total 183000
OR
01.04.2009 To 01.01.2010
15000 * 10 = 150000
16000 * 2 = 32000
Total 182000

The problem is -how would we know that which one of above is right -as date of due of salary not given in question)

M Prabhakar Menon

M Prabhakar Menon (Expert)
Follow

01 April 2010 Pl give a note along with your answer stating the assumption made that will take care of the answer.

PardeepBassi

PardeepBassi (Querist)
Follow

01 April 2010 thanks

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now