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Salary of march 2017

Others 335 views 2 replies

I retired on 28 Feb 2017. The salary of March 2017 which included my final dues is(2435170/-) credited in my account on 10 April 2017. (Though this is included in the form 16 given by my company)

But my bank balance on 31 march 2017 does not have this ammount.

How is this to be factored into the Blance sheet (which is as on 31 March 2017)?

Also iI was paid abt 77 lacs as provident fund. Do Ineed to put it in balance sheet as income during the year or leave it out ( As I understand this amount is tax paid, and hence forth the interest on this will be taxable). This will show up as balance in my bank as on 31 March 2017.

Regards

Replies (2)
why are you required to prepare if you are an salaried individual. your salary wud be taxed on accrual basis for A.Y.2017-18.

My previous years had Futures & Option trades which required audit of my account. This year there has been accrual from sale of ancestral property too.For sake of continuity and being prepared of call from ITO i am preparing balance sheet for this previous fiscal.


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