Please Help: Income Tax
Posted Date : 26-May-2011 , 10:32:26 am | Posted By: RAJESH SINGHAL
Category :
Income Tax | Answers :
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Comments :
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if i am not paid salary for the whole year amounting to 12 Lac, then will i be liabile to pay self ass. tax? and subsquntly TDS deducted (at the time of payment) then ? |
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Answers:
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 Answer by: CA.Khurana Vivek |
| Please explain the question, its not clear.
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| Answer by: Madhu Kiran |
| Please share your query once again...
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| Answer by: CA VIKAS JAIN |
| salary is taxable when it is due or when it is received which ever event is earlier.
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| Answer by: Anmol Goyal |
| salary is taxable on due or receipt basis whichever is earlier.
If afterwards, at the time of receipt tax is deducted, then you will be entitled for a return..
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| Answer by: Anmol Goyal |
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| Comments |
| Posted By : CA MANOJ GUPTA |
28-May-2011, 07:21:24 |
| salary is taxable on due or receipt basis
u can claim that since i have not recd the salary hence i will not pay tax
u can pay tax when u receive the salary |
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| Posted By : Ca Nitin |
27-May-2011, 07:17:34 |
| what do you want to say narrate clearly |
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| Posted By : CA VIKAS JAIN |
27-May-2011, 02:37:07 |
| dear Rajesh, under the income tax law income is taxable when is accrued to you, means right to received the income is earned. so the salary is taxable in the year when its due to employee however payment may be subsequently done by employer.
therefor employee should pay the self assessment tax at the time of filling of his return for that income also which is accrued to him but not received yet.
As far as the question of TDS, when such employee received the salary then he can inform to his employer that tds should not be deducted as he was already paid taxes on that income. or if inspite of that tds is actually deducted by the employer then that should be refundable to the employe.
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| Posted By : SANJEEV RASTOGI |
26-May-2011, 11:04:26 |
| what do u want to say. not clear |
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