Inclusion of salary income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 August 2011
a person works as a manager in a pvt. company. However no salary recd. by him due to fund shortage.he also has consultancy income. company claims expenses in its return on accrual basis.
is it necessary for that individual assessee to include salary income in its return even if it is not recd. by him. or he can show it in the year of receipt.
is it necessary for that individual assessee to include salary income in its return even if it is not recd. by him. or he can show it in the year of receipt.
25 August 2011
Salary income has to be taxed in the year of receipt.
Hence, that individual assessee does not have to include salary income in its return if not received during the year.
Hence, that individual assessee does not have to include salary income in its return if not received during the year.
Message likes :
1 times
25 August 2011
for the purpose of chargeability to tax salary consists of any salary due from an employer to an assessee in the previous year , whether actually paid or not
Message likes :
1 times
25 August 2011
Agreed with Gurdeep Singh-- refer below link to satisfy your further doubts, if any,
http://www.vakilno1.com/bareacts/incometaxact/s15.htm
http://www.vakilno1.com/bareacts/incometaxact/s15.htm
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- TDS on Purchase of Immovable Property by NRI from NRI
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Value of property in capital gain
- Annual return in Gst
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
