Advance aginst salary

This query is : Resolved

vishal n kokate (Querist)
Follow

17 April 2014 i will taken loan from my company of Rs.100000/- in april, 2014 monthly installment from april, 2014 of rs.10000/- my total taxeble income after computation is rs.269530/- for the f.y.2014-15 So how much TDS deducted from my advance salary of rs. 1 lakh?

Sandeep Dharar

Sandeep Dharar (Expert)
Follow

17 April 2014 If it is in the form of Loan as mentioned then no TDS will b deducted, but if it is in the name of staff advance then it will b added to ur salary & TDS will b deducted as usual according to slab rate.

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

17 April 2014 assuming it is a loan, you need to first compute the perquisite in form of less/no interest paid on this loan. this saving of interest needs to be added to your salary and then annual tax liability is to be computed and tds is to be deducted on average rate arrived by deducting total tax liability/total income.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

vinod

sandhya.v

Suneel Shah

NICKOONJ VANANI

CA.K.RAMAKRISHNA. PRABHU

Subscribe Now

Advance aginst salary

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Article Assistant

Accountant

GST CONSULTANCY

CA Final

GST CONSULTANT