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arrear of salary

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(Querist)
21 February 2008 Increment for the month of Jan-Mar'08 will be received in the month of Apr'08.

Plz clarify it will be taxeble in which assessment year i.e. 2007-08 or 2008-09.


Thanks,
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CA Saurabh Maheshwari

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CA Saurabh Maheshwari (Expert)
21 February 2008 ARREARS OF SALARY IS TAXABLE IN THE YEAR OF RECEIPT THEREFORE IT IS TAXABLE IN 2008-09.BUT IF IT IS AGREED THAT THE PAYMENT WILL BE MADE IN APRIL BUT DECIDED IN THE PREVIOUS YEAR 2007-08 THAN IT IS TAXABLE IN 2007-08 ON DUE BASIS
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
21 February 2008 If it is already a committed amount, it will fall under the category of salary due. You have to clarify this aspect.
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CA. GOPAL SONIKA

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CA. GOPAL SONIKA (Expert)
08 March 2008 On accrual basis in the year 2007-08

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