Salary
This query is : Resolved
07 November 2016
What is the difference between advance against salary and advance salary?
Amol S Joglekar
(Expert)
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?
Amol S Joglekar
(Expert)
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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