D/Sir ,
how to deduct TDS on salary when advances are being given to employees?
5 Replies
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 14 December 2017
Advances are refundable. Reverse the advance and Calculate as per salary...
S.Gupta c/o KPS
(NA)
(187 Points)
Replied 14 December 2017
Dear sir ,
if the advances are being given in the month of March whether TDS will be calculated on the full salary or the balance of salary being credited to clients bank account?also ,should we avoid givng advance salary in the month of march.?
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 14 December 2017
Advance is not salary. It's refundable from employees... You ll calculate TDS on full salary for the month of March or Any months...
DEEPAK
(CEO)
(33 Points)
Replied 14 December 2017
As per section 192(1) OF INCOME tax act, tds is to be deducted at the time of payment of salary. If advance is in the nature of advance salary (ie non refundable) and If payment is given in march,then tds is to be deducted in march.
muthukrishnan
(ASST. MANAGER ACCOUNTS)
(34 Points)
Replied 02 January 2018
TDS SHOULD BE DEDUCT ON SALARY PART ONLY NOT ON ADVANCE
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