HI
Friends an employee worked in a company whole year, but he received salary only for 6 months.
My query is whether he is liable to pay tax on whole year or Actual received salary..............???
13 Replies
CA. Rajeev Aggarwal
(Chartered Accountant)
(3424 Points)
Replied 26 December 2008
Yes, on whole amount
pappu mishra
(Service)
(121 Points)
Replied 26 December 2008
SALARY IS TAXALE AN ACCURAL BASIS. thus, he is laible for whole year.
CA CHINTAN AJMERA
(Chartered Accountant)
(2987 Points)
Replied 26 December 2008
salary is taxable on due basis so he is liable for whole amt.
Prabeer
(B. COM (H) CA & CS Final)
(5484 Points)
Replied 26 December 2008
As salary is taxable on due basis he is liable to tax on the whole amount.
Murali Krishna
(Employee)
(350 Points)
Replied 26 December 2008
Yes, I'll agree with the above answers, but i've a doubt where the employee is sure that he'll not get the remaning six months salary, what will be his tax liability..???
Murali Krishna
(Employee)
(350 Points)
Replied 26 December 2008
Depends on the comapny accounts, if the company is showing as outstanding liability he has to pay for the remaning 6months also..
vardhaman
(Articled Asssistant)
(29 Points)
Replied 26 December 2008
hey murali don deviate from the topic...if you want to contribute something usefull then do it don do timepass and waste other CA's time.
Vidya
(Accounts Executive)
(564 Points)
Replied 26 December 2008
hi I am Vidya working for a MNC which is established this year and we have not yet started our trading business. We want to register for CST & VAT. What is the procedure and forms required for this purpose
RAJU
(LEARNER)
(1089 Points)
Replied 26 December 2008
Hi Vidya,
I suggest you to post your queries at appropirate place, else, may not be noticed.
In Karnataka Form VAT-1, 2, 3 and 4 for VAT registration and Form-A for CST which is believe is common throught the Country has to be filled and filed with jurisdictional officer. MOA, AOA, Address proof of business address and directors etc., have to be submitted along with the application.
Murali Krishna
(Employee)
(350 Points)
Replied 27 December 2008
VISIT YOUR LOCAL VAT OFFICE THEY WILL ASSIST.IF YOU DON'T NOW WHICH VAT OFFICE U SHOULD ENQIRE ASK YOUR NEGHIBOUR ESTABLISHMENT WHICH IS THEIR JURDICTION AND U CAN GO THERE AND FOLLOW THE INSTRUCTION
praful
(service)
(63 Points)
Replied 27 December 2008
AS PER INCOME TAX RATE/SLABS 2008-2009, HIS INCOME COME IN TAXABLE SLAB THAN HE HAVE A LIBILTY TO PAY TAX : SO IT IN NOT MATTER THAT HE CAN GET SALARY FOR MUCH MONTH
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