Salary

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kuldeep (Querist)
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11 August 2012 Dear All,

I want a solve my quaries.

Example:

The Pvt Company booked salary expenses in F.Y 10-11, Month October ,Nov to Feb 2011, & shown in payable 31.03.2011 ,but paid cash & Cheque salary April 2011,the expenses of salary allowable in f.y 10-11.

whose section apply in this case.

thanks

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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13 August 2012 No specific section is applicable to this situation. Even Section 43B is NOT applicable.

Deduction is allowed because the expenditure has been incurred, although not paid.

SInce books of accounts are maintained on accrual basis, deduction has been allowed.

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