Dear Team Members,
I am an employee working for a logistic firm. As a part of job, i used to travel a lot and my company used to transfer funds in my salary account as Travel Advances. Further to pay the salary of new joiners, they use to transfer in my account and i use to pay the same.
Now, the matter is my bank statements shows huge amount credited in my account other than the salary.
Although my colleague told me that while Filing the return we need to consider only Salary and nothing else and that which I am aware of but I am afraid regarding the remaining part of the amount as it is credited in my account. Sooner or later if it reflects in my IT or PAN, what should be done.
Should I need to get any letter or such document from the company claiming it as Travel expense and not an income of the employee.
Kindly advise
CAclubindia
