About payment
This query is : Resolved
Chandraiah
(Querist)
18 January 2017
Hi Friends,
Actually we had fired a employee from his service immediately and we are paying him 1 month salary in advance insteda of giving notice period. Can I show it as a salary?.
Please advice me.
Thanks in advance...
Actually we had fired a employee from his service immediately and we are paying him 1 month salary in advance insteda of giving notice period. Can I show it as a salary?.
Please advice me.
Thanks in advance...
CA Prashant Gupta
(Expert)
18 January 2017
you will show it as advance against salary in books which will be asset. because he/she has not earned it. when the month will complete then you will adjust it with his salary payable. so salary expense will be entered in books after completion of one month when you entered salary expense for rest of staff.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Employee secondment
- IMS (import of goods) ITC related
- How do you manage client document collection and follow-ups in your CA/CS practice?
- Advances to related party
- Capital gains in IT returns
- Form 144 TDS Return Validation error
- LLP audit and disclosure
- TDS- 2026-27 Q1 Correction
- Rent agreement of House of deceased person
- Ito add credit side of bank
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
