Salary of March vis-à-vis PY
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 April 2010
Income of salaried employees for the PY 2009-10 covering the period from 01.04.09 to 31.03.10 are considered for income tax purpose in the AY 2010-11. Here a doubt arises. Suppose, an employee receives his salary of March, 2010 on 12th April, 2010. Please clarify if salary of March, 2010 shall be included in the income of PY 2009-10 [or brought forward to the next PY i.e. 2010-11 as the salary of March, 2010 was received on 12.04.2010 only] for calculation of his gross total income and tax liability thereon in the AY 2010-11.
11 April 2010
salary is taxable on due or receipt whichever is earlier. it should be included in the p.y 2009-10
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 April 2010
Thank you Expert for the clarification.
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