ADVANCE SALARY FORM

Hello,Below are the details you require:**Advance Salary:** It means if you work for 15 days within a month, then management can approve ad hoc payment (Advance payment) according to the policy. The number of days for ad hoc payment can vary from company to comp...

Hi all,Please advise if one of my employees requested an advance against salary, but his process head will not approve the same, can the said employee go for legal action?Regards,Vinay

Also, another point to note is that in the case of a loan (not against salary), it is not taxable. However, if the loan is interest-free, notional interest will be added to his income when calculating tax.Thanks,

Advance salary or adv. against salary is taxable in the fiscal year in which it is given. The tricky situation arises when it spans across two financial years. The amount taxed in the previous year will be deducted in the following year. In cases where adjustmen...

Dear Jammy,Advance salary is **TAXABLE**. Let's say, if you pay 3 months' salary to an employee in advance, i.e., 60,000 (20,000 each month), calculate the tax. You can either deduct it from the current month's salary or divide the tax into the whole year, 12 mo...

Hi Friends,I request your advice in understanding the following: What is the difference between Advance against Salary and Advance Salary? Are both taxable? If not, which one of these is taxable, and which one is non-taxable?Please help.Regards,Jammy

Certainly! Here is the corrected text with proper spelling, grammar, and paragraph formatting:–-User input: Can I submit ASR from by post or courier?---Corrected text:Can I submit ASR form by post or courier?---If you have any more text that needs editing, feel ...