Salary income is taxable as per accrual basis or receipt basis which ever is earlier.Hence employees have to declare there income for the period April to march.As per section 192 tds on salary is to be deducted on payment basis. so in filing 24Q Q1 I have a query. June salary paid on 10th July. Tds deducted on 10th July and paid to Govt on 7th August. But for filing 24Q Q1 due date is 31st July.
Then how can I file June salary details in Q1.Can I show only two months salary in Q1.
Menu
24Q Q4 Salary
Replies (1)
practically tds on salary is deducted at the time of date of credit in books of accounts.say salary for the month of june 2018 is entered in books on 30.06.2018.on same date tds is deducted.
Recent Topic
- Can i should STCG and LTCG as business income ?
- Capital contribution in Firm
- Form 3CD – Clause 20(b) | ESI Contribution &
- Capital Gains on Dissolution of Partnership
- GST Payment through DRC-03 by cash against notice
- Schedule EI for ITR1
- INCOME TAX DEPARTMENT: DOUBLE STANDARDS
- ITR-4,under presumptive Taxation
- TDS data mismatch with SFT
- Resale of under construction Residential Flat part
Related Topics
CAclubindia
