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Salary computation
My salary is Rs.75000 per month but I have not received march month salary in the f.y.2019-2020 so for paying tax should I pay for 9,00,000 or Rs.8,25,000.
Replies (7)
Quick Summary
YOU HAVE TO CONSIDER THAT UR SALARY RS 75000/- ON MARCH 2020
HENCE YOU PAY TAX ON RS 900000/- AS YOUR SALARY INCOME.
IF YOUR TDS DEDUCTED EXCESS BY EMPLOYER THEN U CAN GET REFUND AFTER FILLING INCOME TAX RETURN FOR FINANCIAL YEAR 2019-2020.
Then if that Rs 75000 of march has been paid in the month of may 2020 so while vomputing slary for 2020-2021 can we mention that 75000 as arrear salary and file form 10E
No
that salary is your March 2020 does not matter that salary get on may 2020.
that salary is your March 2020 does not matter that salary get on may 2020.
No I have received Rs.975000 in 2020-2021(75000 into 12+75000 of march 20202) for what amount should I pay tax 975000 or 900000 if it is for 900000 and what should I mention for that 75000
Does not matter
u just consider that 75000*12 = 900000/-
u just consider that 75000*12 = 900000/-
If I receive that 2022-2023 then should we consider as arrear salary
Your salary is taxable on accrual basis, i.e for the period to which it actually belongs and not when it is being paid to you
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