Tds on advance salary

This query is : Open

Sunil Pawar (Querist)
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03 August 2015 Dear Sir,

In our company we have deduct monthly tds from employee salary. In that one of employee taken Advance salary Rs.25,000/- of one month & request us to deduct into Monthly EMI Rs.2,000/- his net salary 24000/- after deducting EMI he get 22,000/- .My question is that

1.How much amount i show in tds return monthly in paid / credited colum?? is 22,000/- or 24,000/-
2.If i show 22,000/- in return then advance salary taxable or not???

Please reply on this,

Thanks,

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
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03 August 2015 I don't think that it will b treated as advance salary.. it wil b a staff loan na.. which is equivalent to one month...

Because this amount is repaid by him in instalments.. so this wil not b a part of salary...

for tds u wil have to take his salary of 24000 monthly

Message likes : 1 times

Sunil Pawar

Sunil Pawar (Querist)
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03 August 2015 Thanks for reply sir, but in salary slip shows the net amount is Rs.22,000/- after deducting his loan amount. Then there is mismatch of salary in form 26 AS(rs.24,000/- & actual paid rs.22,000/-???
Is it correct to show 24,000/-which is not paid actually ?

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