Can any one tell me whether tds is deductible by company on staff loan given interest free & which rate applies? Loan amount recovered by deducting from salary. If yes, then is there any other way to save from tds deduction?
1 Replies
Manoj Mehta
(Head Of Department (Accounts & Finance))
(1479 Points)
Replied 12 March 2014
Dear Vivek this is not covered under tds. The concept of tds is deduction on income and loan is not an income, it has to be paid back to employer.
regards
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