Postponing a cheque

U cannot postpone tax liability by postponing encashing of cheque. As per income tax act u need to pay tax on salary on due r receipt whichever is earlier.

Convincing Reply by Ms.Varalakshmi

Hi

Income earned in one assesment year cannot be postponed to another assesment year.

Check the section 10,(subsection 10) u have exemption, limit available upto Rs 10 lakhs

As per the below notification.

DSM/BY/GN-194/10 Notification No. 43/2010 [F.No.20ear0/33/2009-ITA.I], dated 11-6-2010

As per Sec 10 of IT Act you must get exemption of whole amount,since all the employers' now a days are paying within the limit of exemption.

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