Laws and Bare Acts of India at MyNation.net

MyNation Foundation Online Law Library

Section 15 – Income Tax Act, 1961

Income Tax Act, 1961

 

Section 15. SALARIES. 376 .

 

The following income shall be chargeable to income-tax under the head “Salaries” :- (a) Any salary due from an employer 377 or a former employer to an assessee in the previous year, whether paid or not;

 

(b) Any salary paid or allowed to him in the previous year by or on behalf of an employer or a former employer though not due or before it became due to him;

 

(c) Any arrears of salary paid or allowed to him in the previous year by or on behalf of an employer or a former employer, if not charged to income-tax for any earlier previous year. 

 

Explanation 1 : For the removal of doubts, it is hereby declared that where any salary paid in advance is included in the total income of any person for any previous year it shall not be included again in the total income of the person when the salary becomes due.

 

Explanation 2 : Any salary, bonus, commission or remuneration, by whatever name called, due to, or received by, a partner of a firm from the firm shall not be regarded as “salary” for the purposes of this section.

 

Related Judgements

 

COMMISSIONER OF INCOME-TAX v. SUNDARAM SPINNINGS MILLS.

 

COMMISSIONER OF INCOME-TAX v. J. V. GUPTA & SONS (HUF).

 

COMMISSIONER OF INCOME TAX v. ABRAHAM GEORGE.

 

COMMISSIONER OF INCOME-TAX v. COCHIN REFINERIES LTD

 

Previous | Naxt

 

Income Tax Act, 1961 

 

Indian Laws – Bare Acts

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © 2018 Laws and Bare Acts of India at MyNation.net
×

Free Legal Help just WhatsApp Away

MyNation HELP line

We are Not Lawyers but No Lawyer will give you Advice like We do

Please to read Group Rules – CLICK HERE, If You agree then Please Register CLICK HERE and after registrationJOIN WELCOME GROUP HERE

We handle Women centric biased laws like False 498A, Domestic Violence(DV ACT), Divorce, Maintenance, Alimony, Child Custody, HMA 24, 125 CrPc, 307,312, 313,323 376, 377, 406, 420, 506, 509; and also TEP, RTI etc

Web Design BangladeshWeb Design BangladeshMymensingh