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Salary under 43 B ?

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(Querist)
03 September 2010 Whether monthly Salary of staff is covered by Sec 43B of income tax act ?
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
03 September 2010 no. Only bonus is covered.
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CMA. Subhash Kumar Jha

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CMA. Subhash Kumar Jha (Expert)
03 September 2010 Dear Adi,

Will your answer be the same if the salary has not been paid till the return ?
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
03 September 2010 Yes it would be the same. As per section 43B only any sum referred to in clause (ii) of sub-section (1) of section 36 is covered which in turn is (ii) any sum paid to an employee as bonus or commission for services rendered, where such sum would not have been payable to him as profits or dividend if it had not been paid as bonus or commission.

So it is covers just bonus or commission for services rendered and not salary payable.
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CMA. Subhash Kumar Jha

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CMA. Subhash Kumar Jha (Expert)
03 September 2010 Thanks
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