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dinesh joined a company on 1st December 2014 in the pay scale of ₹8000-1000-27000 at an initial salary of ₹12000. As per term of employment salary become due on first next month and it is generally paid on first day of next to next month. find out his basic salary fir the assessment year 2018-19.
Replies (2)
Salary details present are of December 2014.
Please provide details for the period AY 2018-19.
salary is chargeable to tax either on 'due ' basis or on 'receipt ' basis, whichever is earlier
for AY 2018-19 previous year is 2017-18 ( i. e., 1st april ,2017 to 31st March, 18)
as per above question salary is paid after due date .so, it is taxable on due basis
salary from 1st Dec, 16 increased to RS 14,000 , but it is due for payment only on 1st January, 17
salary for AY 2018-19
14,000 * 9=1,26,000
15,000 *3=45,000
total. 1,71,000
# for further information please reply
for AY 2018-19 previous year is 2017-18 ( i. e., 1st april ,2017 to 31st March, 18)
as per above question salary is paid after due date .so, it is taxable on due basis
salary from 1st Dec, 16 increased to RS 14,000 , but it is due for payment only on 1st January, 17
salary for AY 2018-19
14,000 * 9=1,26,000
15,000 *3=45,000
total. 1,71,000
# for further information please reply
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