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Salary computation

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374 Points Posted on 04 April 2020
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.
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On 04 April 2020 at 17:09 Report
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30 Points Posted on 04 April 2020

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.  

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On 04 April 2020 at 18:30
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374 Points Posted on 04 April 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
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On 04 April 2020 at 18:58
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30 Points Posted on 04 April 2020
No
that salary is your March 2020 does not matter that salary get on may 2020.
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On 04 April 2020 at 19:02
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374 Points Posted on 04 April 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
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On 04 April 2020 at 19:09
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30 Points Posted on 04 April 2020
Does not matter
u just consider that 75000*12 = 900000/-
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On 04 April 2020 at 19:15
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374 Points Posted on 04 April 2020
If I receive that 2022-2023 then should we consider as arrear salary
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On 04 April 2020 at 23:21
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10 Points Posted on 04 April 2020
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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On 04 April 2020 at 23:45


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