Govt. employees usually calculate tax on the salaries from Mar(Payable in Apr) to FEB(payable in Mar). suppose an employee receives salary in march say ,Mar 21st,2010 should it be included in the returns filed in the A.Y.2010-11 or 2011-2012? please clarify this because the treasury authorities take IT particulars in FEB itself . That leads me to think that income earned in March is considered as the income of the next financial year.
Income earned in march falls under which financial year
chanakya (Teacher) (183 Points)
08 February 2010
CAclubindia
