vikash jaiswal (Finance Officer ) 01 May 2012
Dear All
What should be the treatment of unclaimed Salary/wages, lying in books for more than 3 year?
Whether, the company can transfer the same to income or deposit the same with some government account, similar to the case of Unclaimed dividend,
Vikash
Kumar Doab (FIN) 02 May 2012
Kindly look into the treatment of these amounts in balance sheet of the comapny,if these are acknowledged these shall not be time barred.
Gujarat High Court
Ambica Mills Ltd., Ahmedabad vs Commissioner Of Income-Tax ... on 30 August, 1963
Equivalent citations: AIR 1964 Guj 208, (1964) 0 GLR 65, 1964 54 ITR 167 Guj
https://www.indiankanoon.org/doc/698891/
Valuable advice of learned experts/members is sought.
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