Salary is chargeable on
whichever is earleir
Employee received salary of April 2015 in advance on 25th March 2015.
In which financial year is it taxable .View Answer
Since the salary is paid before it becomes due hence it is taxable on 25 March 2015 i.e. financial year 2014-2015.
Employee received arrears of salary of December 2011 on 10th June 2015. in which financial year is it taxable .View Answer
If this salary was taxed in year 2011-12, then it wont be taxable in financial year 2015-16 .
If it was not taxed earlier then it will be taxable in 2015-16 .