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TAX ON ADVANCE AGAINST SALARY

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(Querist)
06 August 2009 PL LET ME KNOW WHETHER ADVANCE AGAINST SALARY WHICH IS RECOVERABLE IN 6 MONTHS with equal EMI should be treated as interest free loan and treated as perquisite or we can say that this is advance against salary and not incuded
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CA CS CIMA Prakash Somani

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CA CS CIMA Prakash Somani (Expert)
06 August 2009 Adv against salary ionly adn no way be loan
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varsha

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varsha (Querist)
06 August 2009 Give me some legal supportings for the same
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