what is the meaning of advance against salary?
Menu
salaries
Replies (1)
Advance you take against your salary to be deducted against your future salary to be earned is advance against salary. However, you are taxed on receipt basis or as and when earned whichever earlier. Therefore, the entire advance is taxable less whatever amounts have been deducted in your salary in the same financial year.. In the next financial year your salary is reduced by your deductions towards the amount advanced to you.
Recent Topics :
- Gifting money to my father-in-law (my husband's da
- GSTR-1 JSON from marketplace exports (Myntra / Ama
- Question on buy back of shares
- Saving corporate tax completely on profit from rea
- Hi experts need some helps
- A query regarding GST and Place of Supply:
- ADT-3 not filed by previous Auditor
- Revising salary on 24Q Q4 FY 25-26
- LTCG: Home Loan Principal Repayment?
- Ims action relationship query
Related Topics :
CAclubindia
