salary

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 July 2010 generaly we get March's salary in the month of April & there are 12 month then pl said me from which month we count our total 12 salary monthwise

CA. Pradeep Nayak

CA. Pradeep Nayak (Expert)
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28 July 2010 12 months salary is considered for the period Apr-March on accrual basis even though you receive March salary in April.

srinath

srinath (Expert)
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28 July 2010 salary would be taxed on accural or receipt which ever is earlier

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CA.ViVeK M ACA

CA.ViVeK M ACA (Expert)
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28 July 2010 Fact of the cases

Counting of 12 month salary where one month salary is receieved in next month

Provisio as per Income tax Act

Salary shall be chargeable to tax on due basis or receipts basis which ever is earliest ( Refer charging section 15 of the income tax Act)

Conclusion
in your case Due basis is early and the 13 month period shall be counted from April to march of the financial year concered