Hi All,
Would like to know if salary advance will be treated as a perquisite if its not recovered from the employees within one month. What does Income tax act says about it. Request all to kindly clarify on the above matter.
Thanks & regards,
Vishakha
Thanks for the reply, but if the employee is unable to repay the amount back to the employer within one month, will it be treated as perquisite or it wont be treated as perquisite.
CAclubindia
