Question on annual income calculation
This query is : Resolved
MVDV PRASAD
(Querist)
06 April 2017
If February salary is given in April, is there any rule to pay tax for the month of February in the current financial year or in the next financial year.
MVDV PRASAD
(Querist)
07 April 2017
give me answer sir
19 July 2025
Taxability of Salary — Payment vs. Accrual
Under Income Tax law, salary income is taxed on the basis of actual receipt (payment basis), not on accrual basis (unless your employer follows some other accounting method, but for salary it’s mostly payment basis).
So, if February salary is paid in April (next financial year), it is taxable in the financial year in which it is actually received, i.e., the next financial year.
Under Income Tax law, salary income is taxed on the basis of actual receipt (payment basis), not on accrual basis (unless your employer follows some other accounting method, but for salary it’s mostly payment basis).
So, if February salary is paid in April (next financial year), it is taxable in the financial year in which it is actually received, i.e., the next financial year.
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
- Depreciation Chart Companies Act
- EPF ECR NEW FILE SEP 17TH 2026
- Capital Gail Exemption Certificate
- Oct 2025 Invoices
- Import of Software Service.
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- Under marginal scheme
- Capitalgain tax purposes for valuation report compulsory
- GST on Renting godown to KFCSC for Storage of Raagi
- GST Audit whether Govt Companies are exempt?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
