Tds on advance salary
This query is : Resolved
Sunil Pawar
(Querist)
03 August 2015
Dear Sir,
In our company we have deduct monthly tds from employee salary. In that one of employee taken Advance salary Rs.25,000/- of one month & request us to deduct into Monthly EMI Rs.2,000/- his net salary 24000/- after deducting EMI he get 22,000/- .My question is that
1.How much amount i show in tds return monthly in paid / credited colum?? is 22,000/- or 24,000/-
2.If i show 22,000/- in return then advance salary taxable or not???
Please reply on this,
Thanks,
In our company we have deduct monthly tds from employee salary. In that one of employee taken Advance salary Rs.25,000/- of one month & request us to deduct into Monthly EMI Rs.2,000/- his net salary 24000/- after deducting EMI he get 22,000/- .My question is that
1.How much amount i show in tds return monthly in paid / credited colum?? is 22,000/- or 24,000/-
2.If i show 22,000/- in return then advance salary taxable or not???
Please reply on this,
Thanks,
CA AnKiT BoHrA (AB)
(Expert)
03 August 2015
I don't think that it will b treated as advance salary.. it wil b a staff loan na.. which is equivalent to one month...
Because this amount is repaid by him in instalments.. so this wil not b a part of salary...
for tds u wil have to take his salary of 24000 monthly
Because this amount is repaid by him in instalments.. so this wil not b a part of salary...
for tds u wil have to take his salary of 24000 monthly
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Sunil Pawar
(Querist)
03 August 2015
Thanks for reply sir, but in salary slip shows the net amount is Rs.22,000/- after deducting his loan amount. Then there is mismatch of salary in form 26 AS(rs.24,000/- & actual paid rs.22,000/-???
Is it correct to show 24,000/-which is not paid actually ?
Is it correct to show 24,000/-which is not paid actually ?
27 July 2025
https://docs.google.com/document/d/173IX39ACm2uDVin7RF618YJ7rpOZ42UvzEtC_I1SsrI/edit?usp=sharing
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