Sirs,
For the FY-2014-15 I got only 10 months salary in hand due to finacial crisis of my employer. Now My employer is calculating tax on my salary taking 12 months in count. Is it correct or not please clarify.
With Regads
Supriya Deb
Menu
Regarding tax deduction at source by my employer
Replies (1)
Salary is taxed on due basis or receipt basis, whichever is earlier. As you worked for 12 month and your salary is due for that you have to pay tax and your employer is doing correct in this regard.
Factually, Tax is required to be paid on the amount of salary shown in Form 16 issued by the employer, whether it is actually received or not.
Recent Topic
- Gift recd from brother
- How to show Loan write off in DPT 3?
- Form 10E and Salary arrear
- LTCG U/S 54F. Sale of property plus sale of share
- Issue with ITR2 online utility for HUF
- TDS deducted by EPFO under wrong section
- Schedule SI in ITR-2
- What is the easy way to do CA- through foundation
- Schedule FA query for this AY 2026-27
- Business income source for husband and wife
Related Topics
CAclubindia
