How the advance salary is taxable?
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Advance Salary and bonus become taxable in the year of actual receipt on the basis of the tax rates applicable in the year of receipt. However, Assess can claim relief under section 89(1) of the Income Tax Act.
Advance Salary and bonus become taxable in the year of actual receipt on the basis of the tax rates applicable in the year of receipt. However, Assess can claim relief under section 89(1) of the Income Tax Act.
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