excess payment of salary
This query is : Resolved
18 February 2009
more salary has been paid to md
this excess payment is recovered during current year by way of deduction from salary andgetting cheque in the name of co.
plz tell me whether net salary will be taxable or actually earliar paid
this excess payment is recovered during current year by way of deduction from salary andgetting cheque in the name of co.
plz tell me whether net salary will be taxable or actually earliar paid
18 February 2009
If the salary refunded is in view of legal requirement contained in The Companies Act,1956 and refund is not voluntary then,only net salary is taxable. Citation:-
CIT Vs. Raghunath Murti (2008) 220 CTR (Del)102.
CIT Vs. Raghunath Murti (2008) 220 CTR (Del)102.
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