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
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
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.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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