is commission taxable on due basis or receipt basis under the head salaries
tnk u in advance
3 Replies
prasad Nilugal
( GST Practitioner & Accounts )
(14868 Points)
Replied 24 January 2023
As per section 15(a) of the income tax Act, any salary due in the privious year, is chargeable to income tax, and as per section 17 salary include commission, so commission taxable on due basis.
sabyasachi mukherjee
(27721 Points)
Replied 27 January 2023
On accrual basis. it's basically a reconciliation of accounts.
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