SALARY ADVANCE WHETHER TAXABLE

Salary Advance is not taxable.

how can i satisfy my office people, they are showing some illustrations in swami's handbook regarding the tax calculation, please help with some citations or case laws or book illustration etc

Salary advance is temporary Loan to the employee,Your salary may be taxable but the temporary advances R not taxable as it's returnable.

Once it's Get converted as Salary that's Point of time your taxability would be determined.

In your case in actual terms u took a loan from the employer so hence it is not considered as advance salary.Because u r repaying it in instalments it is a advance on salary not advance salary.so it is not taxable

Advance salary is taxable in the year of taking advance but loan against salary is not taxable. both are different.

As far as i m concerned Salary is taxable at the time of payment or due,whichever is earlier. so advance salary is taxable as per IT Act.

As Far As Salary Advance is concern it will be taxable because salary is taxed on payment basis. You need not to worry as salary advance will be deducted from salay and tax in that month would be less. But if tyou are repaying salary advance in 36 installments than it cannot be called as salary advance. Same is a kind of loan which you have take from employer and so such loan is not taxable.

Salary advance taken by you is repayable in 36 instalments. Such advance is not taxable.

Salary is taxable on accrual or receipt basis whichever is earlier. i.e. salary advance is taxable at the time of receipt. from ur instance it seems that u have received staff loan and loans are not subject to tax. hence check with ur employer whether it is in nature of advance or loan and conclude that advance is taxable and loan is non-taxable. if it is an advance, u will be taxed but u can also enjoy relief u/s. 89 of IT Act. discuss with ur accountant.

salary advance is taxable.. as per section salary received or accruer which ever is earlier is taxable. its not a loan.. actually it is not refund of loan but adjustment in advance salary any any co. will do. i strongly recommend that it will be taxable.

Defenition of Salary u/s 17(1) (v) includes advance of salary. It form part of the taxable salary.

Dear Vikram Singh ! Sonia Uthuppu, rightly referred section 17 of the Income-tax Act which is as follows: 17. For the purposes of sections 15 and 16 and of this section,— (1) “salary” includes— (i) wages; (ii) any annuity or pension; (iii) any gratuity; (iv) any fees, commissions, perquisites or profits in lieu of or in addition to any salary or wages; (v) any advance of salary; [(va) any payment received by an employee in respect of any period of leave not availed of by him;]......... By virtue of the definition 'advance salary' is taxable

Repayment of loan is different from deduction in salary. hence its taxable as I have mentioned earlier. CA.Saibaburao Nanduri has also been mentioned charging sec. 17 of the salary head so now it should be clear.. i think