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Tax query

Others 618 views 1 replies

sir my  previous company used deduct some amt and they have traditional of paying it at the end  of year.

i left that company my new company  has paid me that amount

 

now my query is that whether i have to pay  tax twice 1) accrual 2) paid basis?

Replies (1)
No you have to pay either on accrual or paid basis whichever is earlier.if your previous company has already deducted the tax for the duducted amount from your salary then you need not pay any tax else you need to pay tax on the recieved amount.but you need not have to pay tax for same amount


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