Relief u/s 89
This query is : Resolved
Sankar Chakraborty
(Querist)
08 May 2012
OUR DIRECTOR HAD TAKEN RS. 1.25 LAC AS ADVANCE AGAINST DIRECTOR’S REMUNERATION IN THE YEAR 2010-11 AGAINST HIS SALARY FOR THE YEAR 2011-12
IN 2011-12, THE ABOVE RS. 1.25 LAC IS ADJUSTED AGAINST REMUNERATION PAYABLE FOR THE YEAR 2011-12
MY QUESTION IS IT a case of RELIEF u/s 89 if yes please let me know how to calculate ?
please help
IN 2011-12, THE ABOVE RS. 1.25 LAC IS ADJUSTED AGAINST REMUNERATION PAYABLE FOR THE YEAR 2011-12
MY QUESTION IS IT a case of RELIEF u/s 89 if yes please let me know how to calculate ?
please help
Guest
Guest
(Expert)
08 May 2012
Ni it is not a case of releif u/s 89. Salary is taxable on recept basis in case of advance.
Sankar Chakraborty
(Querist)
09 May 2012
sir,
was it taxable in the year 2010-11 ? we have paid tax for the same in the year 2011-12.
please guide
was it taxable in the year 2010-11 ? we have paid tax for the same in the year 2011-12.
please guide
Guest
Guest
(Expert)
09 May 2012
Yes it was taxable in the year 2010-11.
Here the company has to pay tax for 2010-11
Here the company has to pay tax for 2010-11
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