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Advance payment against salary whether 40(3) applicable

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 September 2010 Dear sir,

One of our client has provided advance to employees in cash against salary amounting Rs. 45000/-, to be deductible Rs.1000/- each month from his salary, no tax is deducted while computing total income of employees for 192 purpose.

whether Sec. 40A(3) applicable on such payments.

Kindly provide relevant circulars or notification or sections.


Thanks,
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
07 September 2010 yes. applicable

Sec..40A(3) applicable for salary payment also
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