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Paid excess salary

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 January 2012 During F.Y.2010-11, we had paid Rs.90,000/- excess to our officer. We had also filed TDS(Salary) and That officer had also filed his return of income. Now we are in the process of recovering that amount(F.Y. 2011-12). What procedure we need to follow?
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Vipin Kumar

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Vipin Kumar (Expert)
10 January 2012 Any advance in excess to Rs. 20000 is treated as loan to employee and value of perquisite (interest) should also be drawn to compute TDS.

Make sure that TDS on advance salary along with value of perquisite (interest) is deducted in FY 10-11.

While recovering salary advance just recover it from a single month's salary or in instalments, by deducting a fixed amount each month.
However the amount got included in earlier year's tax computations shall not be liable to be included in current year's tax computations. As salary is taxable on advance or accrued which ever is earlier basis.
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