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March salary paid in april, how to show in itr?

Tax queries 5173 views 4 replies

March 2015 Salary was credited on 5th April 2015 and the TDS on same was not shown in AY 2015-16 but in AY 2016-17 form 26AS. Even form16 doesnot show March and every year its same so effectively 12 months salary gets complete in one FY. But my query is since both amount and TDS is shown for AY 2016-17, while filing ITR can I just follow like this or I have to show March 2015 Salary in AY 2015-16?

Replies (4)

Salary is taxed on 'due basis' or 'receipt basis', whichever is earlier.

Income from salary taxable during the year consists of following:

  1. Salary due from employer (including former employer) to taxpayer during the previous year, whether paid or not;
  2. Salary paid by employer (including former employer) to taxpayer during the previous year before it became due;
  3. Arrear of salary paid by the employer (including former employer) to taxpayer during the previous year, if not charged to tax in any earlier year;

 

March'15 salary will be taxable in AY 2015-16.

Salary is taxed on 'due basis' or 'receipt basis', whichever is earlier.

Income from salary taxable during the year consists of following:

  1. Salary due from employer (including former employer) to taxpayer during the previous year, whether paid or not;
  2. Salary paid by employer (including former employer) to taxpayer during the previous year before it became due;
  3. Arrear of salary paid by the employer (including former employer) to taxpayer during the previous year, if not charged to tax in any earlier year;

 

March'15 salary will be taxable in AY 2015-16.

Hello Thanx for the reply but the TDS for the same march salary has been done but not showing in form 26AS and form16 so despite my TDS done, I show the salary in ITR and have to pay TDS again on my own. How does this work?

 

Hi,

How did you resolve this? Does the TDS software permit inclusion of payment made in April into Form 24Q Q4 of the previous year?

Thanks

 


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