salary

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 July 2010 generaly we get March's salary in the month of April & there are 12 month then pl said me from which month we count our total 12 salary monthwise

CA. Pradeep Nayak

CA. Pradeep Nayak (Expert)
Follow

28 July 2010 12 months salary is considered for the period Apr-March on accrual basis even though you receive March salary in April.

srinath

srinath (Expert)
Follow

28 July 2010 salary would be taxed on accural or receipt which ever is earlier

CA.ViVeK M ACA

CA.ViVeK M ACA (Expert)
Follow

28 July 2010 Fact of the cases

Counting of 12 month salary where one month salary is receieved in next month

Provisio as per Income tax Act

Salary shall be chargeable to tax on due basis or receipts basis which ever is earliest ( Refer charging section 15 of the income tax Act)

Conclusion
in your case Due basis is early and the 13 month period shall be counted from April to march of the financial year concered

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

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

tpksathyan narayanan

S D Kannan

ASIM ATREY AND ASSOCIATES

Tanishka Khandelwal

Vimlesh kumar

Subscribe Now

salary

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA