Ay 18-1 tax credit claim

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TARIQUE RIZVI (Querist)
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15 April 2017 Businesses and professionals could soon have to pay salaries of Rs 10,000 or more to their employees through cheque or bank transfer if they want to claim tax credit.

Ay 18-19 : Fy: 17-18 Year Ending March 18
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As our employees don’t want to receive their salary by cheque and everybody is being paid above Rs. 10,000/= whether we can split the salary into two parts? Suppose salary is Rs 15,000, on 10th of every month we will pay a sum of Rs 10,000 in cash to the employees on account of advance against salary and the balance we will pay on or after 30th of the month. Whether it will do ?

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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15 April 2017 In my opinion such a course of action may invite a IT scrutiny and may not withstand a possible IT scrutiny. And as far as salary advance is concerned it may be required by the employee once or twice but not regularly so justification even on this count may be difficult. Better course is to credit the salaries directly to their bank accounts.

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