Treatment of salary received
This query is : Resolved
05 August 2012
I Received a Salary as Cheque But not deposit in Bank up to Return filled date then what treatment of this Salary Received in Capital Account or Balance Sheet
Please give me response quickly
Thanks In Advance
Please give me response quickly
Thanks In Advance
CA Manikandan.A.V
(Expert)
05 August 2012
I assume that you have received Salary Cheque prior to 31st March, but couldn't deposit it.
You need to take that also into consideration while filing your return as your employer would have already filed to the IT dept as your salary.
You need to take that also into consideration while filing your return as your employer would have already filed to the IT dept as your salary.
CA Manikandan.A.V
(Expert)
05 August 2012
And w r t its accounting, you have to treat its as a receipt and credit your capital account and debit the bank. In the bank reconciliation you can show this cheque as uncleared.
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