Taxability of salary of march month.
This query is : Resolved
19 December 2013
I need clarification for;-
Salary of an employee for the month of march will be recieved in april month, so when will march months salary will be taxed, is in march month or april. If I declared in accrual basic I.e., in march can I change into reciept basis in next year.
19 December 2013
You follow form No 16 which will be on accrual basis (not receipt)
19 December 2013
many firms account for in April. But it doesnt make much difference as the same policy would have been used in last year too!! So you would have to include last march salary in April of this year!!
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