Easy Office
LCI Learning

salary advance to employee on interest

This query is : Resolved 
Profile Image

Profile Image

(Querist)
16 November 2010 Hello,

My doubt is if a company gives salary advance to employee on say 10% interest and company is receiving interest earned then whether any TDS is involved in this situation?

surya
Profile Image

CMA Ramesh Krishnan

Profile Image

CMA Ramesh Krishnan (Expert)
16 November 2010 Interest paid by salaried Individual so they no need to deduct the TDS on their payment
Profile Image

O.D.SHARMA

Profile Image

O.D.SHARMA (Expert)
17 November 2010 Hi,
TDS & Interest are different.these are not connected.Your TDS will be on liability(if u are in Tax slab) .Interest is fixed.
Upgrade to CAclubindia Pro. Subscribe Now!


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries



Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links