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Provision for salary
provision for salary is admissible under income tax or not
Replies (5)
Quick Summary
Not admissible.
Salary expenses are allowed to be claimed subject to section 43B i.e. on actual payment basis.
The only provision allowed is provision for gratuity which becomes payable.
Salary expenses are allowed to be claimed subject to section 43B i.e. on actual payment basis.
The only provision allowed is provision for gratuity which becomes payable.
@ Mr Ashok Gupta.,
Are You asking about Employer's account or Employee's Salary...?
Are You asking about Employer's account or Employee's Salary...?
@ raja about employer's account
Yes... You can provide Provision of Salary in the end of the month. It's admissible under income tax...
The only salary paid or incurred in the current year is deductible from current income and any provision for future salaries shall not be admissible as deduction as a business expense under Income Tax and if it is already claimed as a deduction it will be disallowed by AO in future.
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