Interest is a part or salary or Not?
This query is : Resolved
Naveen Ahlawat
(Querist)
08 April 2010
R/sir,
I want to know that If we are assumeing Mr. A is an employee in our company.His salary is over 50 lakhs. as well as we are paying interest to Mr. A agst his salary amount treated as an unsecured loan.
My question is that this interest is a part of income from salary or Other than salary or in which section we are deduct the tds on interest (192B or 194A) or both.
PLEASE REPLY ME IN SECTION AS WELL.
Regards,
Naveen
I want to know that If we are assumeing Mr. A is an employee in our company.His salary is over 50 lakhs. as well as we are paying interest to Mr. A agst his salary amount treated as an unsecured loan.
My question is that this interest is a part of income from salary or Other than salary or in which section we are deduct the tds on interest (192B or 194A) or both.
PLEASE REPLY ME IN SECTION AS WELL.
Regards,
Naveen
CA Ashok Kumar Sahu
(Expert)
08 April 2010
AS PER MY OPINION
YOU ARE TREATED UNPAID SALARY OF MR A AS A UNSECURED LOAN, HENCE INTEREST ON THE SAME IS INCOME FROM OTHER SOURCES DEDUCT TDS U/S 194A
YOU ARE TREATED UNPAID SALARY OF MR A AS A UNSECURED LOAN, HENCE INTEREST ON THE SAME IS INCOME FROM OTHER SOURCES DEDUCT TDS U/S 194A
08 April 2010
AGREE WITH ASHOK JI
CMA Ramesh Krishnan
(Expert)
08 April 2010
interest is not part of salary
Naveen Ahlawat
(Querist)
09 April 2010
R/ALL
MY QUERY IS STILL OPEN.
REGARDS
NAVEEN
MY QUERY IS STILL OPEN.
REGARDS
NAVEEN
Naveen Ahlawat
(Querist)
09 April 2010
THANKS FOR YOUR REPLY.
REGARDS
NAVEEN
REGARDS
NAVEEN
Naveen Ahlawat
(Querist)
09 April 2010
ONE MORE QUESTION RELATED TO THIS I WANT TO KNOW THAT THERE IS SOME PROBLEM IF WE ARE IN THE ASSESSMENT OF INCOME TAX OR NOT?
REGARDS
NAVEEN
REGARDS
NAVEEN
CA Ashok Kumar Sahu
(Expert)
09 April 2010
I THINK NO PROBLEM IN ASSESSMENT, IF PAYMENT OF SALARY IS GENUINE.
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