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Salary is chargeable on

Due Basis

or

Receipt Basis

whichever is earleir

 

 

Example

Employee received salary of April 2015 in advance on 25th March 2015.

In which financial year is it taxable .

View Answer

Employee 2

 Employee received arrears of salary of December 2011 on 10th June 2015. in which financial year is it taxable .

View Answer
  1. Income Tax
  2. Income from Salaries
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About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 8 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .
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