To which FY the March 2012-2013 FY salary drawn in April 2013-2014 FY pertain to for calculating tax liability?

I am drawing March [2012-2013 FY] salary in April [2013-2014 FY]. Will it be taxed for 2012-2013 FY or 2013-2014 FY? I mean will it be assessed in 2013-2014 AY or 2014-2015 AY assessment?

asked Mar 12 '13 at 00:06 by UmmarMuhammad 1●2●3

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Salary received for March 2013 should be included in FY 2012-13.

answered Mar 13 '13 at 11:49 by Pankaj Batra 5.2k●3●20

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taxable-income ×38
assessment-year ×4
financial-year ×3
march-salary ×1

Asked: Mar 12 '13 at 00:06

Seen: 3,282 times

Last updated: Mar 13 '13 at 11:49

To which FY the March 2012-2013 FY salary drawn in April 2013-2014 FY pertain to for calculating tax liability?

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