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Querist : Anonymous

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Querist : Anonymous (Querist)
11 December 2017 Sir,
Sir,
I am Ujjal Chanda from Habra,WestBengal-743263 seeking your
guidance to Income tax applicability in the case where Incentive bonous is payble in May, 2018 but if an advance is taken in December,17 then will the advanced amount be reckoned as the income of FY 2017- 18 or in the year of final payment ie FY 2018-19? And is the advanced amount eligible for TDS?
Please guide me.
Thanking You
Ujjal Chanda
Habra
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
11 December 2017 Advance amount will be reckoned as income during FY 2017-18 and TDS will be deducted while making payment.

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