Interest free loan to employee
Querist : Anonymous
Our company has given interest
Free loan Rs. 2 lakh to one of the employee...1) weather interest free loan
wi cover the section 269SS or not...2)
Can we consider the relief u/s 89(1)
or not while deducting TDS,
Regard
Amit Chhabra
2.no relief AVILABLE u/s89(1)
3 . interest free loan taxable considered has perquisitte in the hands of employee. Small loan upto Rs.20000/- is exempt.
Interest Calculated at the rate charged by SBI, as on 1st day of previous year calculated on maximum outstanding monthly balance.
Querist : Anonymous
Querist : Anonymous
Querist : Anonymous
calculate the taxability...also let me know the
loan was given 4/4/2016 how the interest will
be calculated....
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