I want to ask that I joined the present service on 10-07-2019, but got salary from July 19 to March 20 in the month of May 20. Now tell me while filling ITR Return what should I do? I have to show my salary in present ITR Return or in Next year ITR.
Ans: As per the income tax laws, you need to pay tax on salary even if it is not actually received in the financial year.However, it is good to talk to the company and understand how they are recognizing it.
Ideally, the company should also recognize the income in the last year and deduct the TDS for the last year.Accordingly, it should show up in the 26AS statement for last year and you need to file your return on this basis.