Hi,
1. Is bonus given to Employees on Dewali or any other occession is taxable or not with employee salary or not ?
2. Can Employer can give Loan to his employee's without intrest ? and aganist repayment of loan employee is paying monthly monthly installments.Then its treatment needs to be done ?
plz reply
Thanks in advance
Bonus is fully taxable in the hand of empolyee.
Employer can give Loan to his employee's without intrest. But if loan amount exceeds Rs. 20 K than prequisite of interest will be taxable in the hand of empolyee.
Thanks Puneet
Can you Explain in breif loan amt 165000/-,monthly deduction 12000/- then how perquisites intrest is need to calculated ?
Thanks
calculate the interest on monthly outstanding balance as per interest rate prescribed by SBI bank for the loan of same purpose. interest of the financial year will be perquisite in the hand of employee.
CAclubindia
