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Financial year for IT calculation

Tax queries 246 views 1 replies

An Employee joined dduties in a govt. organisation on 19- Feb and salary credited for feb and march month on 2nd April. Employer has not issued Form 16 stating that we follow March to Feb financial year and salary for feb and march month credited in April month, so that form 16 can not be issued. 

Yours kind guidence is requested whether-

Employer's contention is right?

If not, is it violating any income tax law?

Can financial year for TDS deduction purpose be different from April to March?

Replies (1)

As salary is taxable on receipt basis, the employer's contention is right.


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