Perquistes on Loan
This query is : Resolved
19 September 2010
One of my client (working for a US based company)has taken loan of 50 lac Rs from Employer.Interest Rate charged by Employer is 0.5% per year.Employer(company) is based in USA and has branch office in India.
Does this arise any Tax Liability on either Employer or Employee
Does this arise any Tax Liability on either Employer or Employee
20 September 2010
As the Employee has renders service in India.
Hence, Employer is liable to deduct TDS on the perqs of Interest on Home loan.
Hence, Employer is liable to deduct TDS on the perqs of Interest on Home loan.
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