Krish (CA Final ) (3331 Points)
20 February 2010Can any one tell me ? please
What is 'Expression paid' in the following statement ??
Topic - Income for Salaries - Under basis of charge (sec. 15)
- The expression paid includes every reciept by the employee from the employer whether it was due to him or not. The expression allowed is of wider connotation and any credit to the employee's account is covered, thereby and its should imply that right is conferrred onthe employee in respect of the same. [CIT v Russel (1964)]
sivaram
(Asst Mgr-Taxation)
(6918 Points)
Replied 20 February 2010
paid connotes not only paid but also accrued as per the method of accounting followed
Ashish M
(Chartered Accountant)
(2731 Points)
Replied 20 February 2010
hven't understood ur query.!!!!!!!!!!
CAclubindia
