Dear All,
Our Company has given Interest free Advance/ Loan to employees. But As per act, if Loan amount Exceeds Rs. 20000/- is an taxable perks in the hand of the employees. Out of these loan some employees has taken a home loan . In case of home loan tax liablity will be different as personal loan. My query is
that whether we obtain the same documents for home loan taken by the employees as they take the home loan from bank for obtaining the benefit of home loan perks.
Plz clarify the same.
Thanks
Parmod
CAclubindia
