Salary
This query is : Resolved
07 November 2016
What is the difference between advance against salary and advance salary?
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
Advance salary : Salary is paid in advance e.g. salary of Dec 2016, paid in Nov 2016
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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?
07 November 2016
yes, it is given against the amount of salary. It is not taxable.
Advance salary, however, is taxable.
Advance salary, however, is taxable.
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