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
Message likes :
1 times
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.
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
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Mismatch in gstr-1 and eway bill invoice no
- Clarification Regarding Tax Deduction at Source on Receipt Against Issuance of Privilege Voucher
- GST TDS on metal scrap
- ITC Inter head difference
- 80CCD(2) of IT ACT
- Guidance for proper GST accounting (eway bill with correct valuation) for cut-to-pack job work given
- GST Treatment multiple delivery services
- Sale of foreign shares in Indian Rupees - FEMA rules
- Calculate Tax Liability of Sharmila
- Document to add trade name
Trending Online Classes
-
Input Tax Credit, GST refunds and Recovery of refunds- Roadblocks and way outs
CA Nipun Arora03 September 2025 -
GST LIVE Certification Course - 43rd Weekdays Batch(With Govt Certificate)
Industry Expert15 September 2025
CAclubindia
