Salary - can be negative

This query is : Resolved

ravi (Querist)
Follow

22 September 2010 Dear All,

Please tell me, could we show negative salary in Trial balance. the company in which I am working, they have the corporate office in China for accounting work. in the trial balance they are showing negative balance under the head name *Offshore wages". is it possible.

thanks
Ravi Kant

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
Follow

22 September 2010 It is possible.

Suppose in the month of March, an employee whose gross salary is 25000/-, but deduction on account of PF / TDS / other -advances comes to 28000/-, then it will be a negative salary payable.

The above was just a hypothetical case.

ravi

ravi (Querist)
Follow

22 September 2010 could we deduct these Rs.3000/- (28000-25000) from gross salary expenses.

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
Follow

22 September 2010 No... as its only an advance kind of thing, which will be recovered in the coming month.

So this 3000/- will appear in advances.

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

Joyashish Maitra

Saumil Kapadia

Raj Jaggi

Keshav Dubey

Poojitha Raam Vinay

Subscribe Now

Salary - can be negative

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Article Assistant

Manager- Finance and Compliance

GST CONSULTANT

Accountant

CA Final

GST CONSULTANCY