How to file tax if last working day is 31 March 2023, and Salary credited in May 2023

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1 Points Posted on 22 June 2023

Hi

I resigned from my last company and my last working day was 31 March 2023. The company did not pay me last month salary in March. Instead they paid me in the month of May as full and final (FnF) settlement. So should I consider the FnF as 2023 income or for the next financial year?

Best regards.

RJ

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On 22 June 2023 at 15:26 Report
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"Do the Right Thing...!!!"
128152 Points Posted on 22 June 2023
It is consider and account in 2023 (March)
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On 22 June 2023 at 16:00
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2478 Points Posted on 23 June 2023
Form 16A must have included salary for March
though
paid in May
Also 26AS/ AIS must reflect tds and salary as per form 16
So even if salary is recived in May....form 16 would have reflected salary for March
salary is taxed on recived or accrued basis whichever is earlier
So...keeping above points file salary amount
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On 23 June 2023 at 09:36

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