Poonawalla fincorps
Poonawalla fincorps

Salary for march

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(Querist)
19 March 2014 salary for the month of March 2013 was received in April 2013 thn is it taxable in f.y. 2012 - 13 or f.y. 2013 - 14?
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
20 March 2014 Salary is taxable on accrual or receipt basis, whichever is earlier.

The salary became due in March and accordingly will be taxable in FY 2012-13.

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