Taxable income
This query is : Resolved
07 March 2009
Sir,
I am working in a company where i was getting Rs.8000/-PM salary for the financial year 2007-08. and i earned a commision on sales on whole year of Rs. 130000.00 but he not paid me in till jan,09 and i was filled my return of Rs 135000.00 and tax paid of Rs.3006.00 (inc intrest) NOW company is giving me my commision now what to do. how should i treat this income.
Harish
I am working in a company where i was getting Rs.8000/-PM salary for the financial year 2007-08. and i earned a commision on sales on whole year of Rs. 130000.00 but he not paid me in till jan,09 and i was filled my return of Rs 135000.00 and tax paid of Rs.3006.00 (inc intrest) NOW company is giving me my commision now what to do. how should i treat this income.
Harish
08 March 2009
Dear Harish
Rs.130000 will be deemend income for the current year and it will be taxable in the current financial year
Rs.130000 will be deemend income for the current year and it will be taxable in the current financial year
08 March 2009
If you have filed your return in time then you can revise the return or else show it as a current year income.
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