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 .

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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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Davneet Singh
Davneet Singh is a graduate from Indian Institute of Technology, Kanpur. He has been teaching from the past 7 years. He provides courses for Mathematics and Science from Class 6 to 12. You can learn personally from here https://www.teachoo.com/premium/maths-and-science-classes/.
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