Salary

This query is : Resolved

Share Report Follow Query Ask a Query

Vatsal

Vatsal (Querist)
Follow

07 November 2016 What is the difference between advance against salary and advance salary?

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

07 November 2016 Advance against salary : Advance given to employee taking into account his/her salary. e.g. Salary is 10,000, Advance is given which is less than 10,000
Advance salary : Salary is paid in advance e.g. salary of Dec 2016, paid in Nov 2016

Message likes : 1 times

Vatsal

Vatsal (Querist)
Follow

07 November 2016 Whether advance against salary is taxable?

Vatsal

Vatsal (Querist)
Follow

07 November 2016 From above explanation it means that advance against salary is like a loan ,if not repaid it will be adjusted against salary? Right?

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

07 November 2016 yes, it is given against the amount of salary. It is not taxable.
Advance salary, however, is taxable.

Message likes : 1 times

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

Ishwar Radhakisan Tawani

Lalan Kumar Jha

Kalyan Guha

Rajat Khandelwal

Sanoj T

Subscribe Now

Salary

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Article Assistant

CA Final

Manager- Finance and Compliance

Accountant

GST CONSULTANT

GST CONSULTANCY