Tax related to delayed salary for march 2016

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  1. n_uma_3

    n_uma_3 New Member

    Hi,
    I have resigned my job on Mar 2016. I have received my Feb 2016 and Mar 2016 month salaries on Jun 2016 month only ( as final settlement ). Should I need to consider this salary income in FY 2015-16 or FY 2016-17 for tax computation.

    Thanks in advance.
     
  2. ZED

    ZED Well-Known Member

    As per S.15, salary income is chargeable to tax on accrual basis only.
    The income accrued in the F.Y 2015-16, but it was paid in next F.Y.

    Pay tax considering this income in F.Y 2015-16.
     
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