Poonawalla fincorp
Poonawalla fincorp

Tds on salary

This query is : Resolved 

05 December 2014 I WOULD LIKE TO KNOW WHETHER THERE IS TDS LIABILITY ON INTEREST FREE LOAN GIVEN TO EMPLOYEE

06 December 2014 Interest free loan is a perquisite in the hands of the employee. Accordingly the perquisite value of such interest free loan is taxable in the hands of the employee.

Since the perquisite value of the interest free loan is taxable in the hands of the employee, TDS is required to be deducted on such perquisite value.



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