Should we show in income tax return, salary of March 2022 (received in April 2022) or March 2023 (received in April 2023) for the previous year 2022-23 (A.Y. 2023-24)?
I am confused about when does it accrue. Shouldn't March salary become due in April. I mean after the completion of the month?
There could be mismatch of TDS deducted on Salary as it is deducted on payment basis. For example, March 2022 salaries TDS would be deducted in April 2022 and shown in 26AS of P.Y 2022-23. March 2023 salaries TDS would be deducted in April 2023 and be shown in 26 AS of P.Y 2023-24.
2 Replies
NARENDRA
(ACCOUNTS MANAGER)
(1992 Points)
Replied 13 April 2023
Even either deductee deduct your tds in April & deposit later on but this is March month's salary & you will have to club your income in the month of march . As you know tds will automatically shown in 26 AS then nothing problem at all .
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