Employer given to loan employee

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Querist : Anonymous

Querist : Anonymous (Querist)

23 February 2016 If Employer (Company) paid such amount to Employee as loan without interest , and employee paid some rupess deducted on his salary so this loan amount should count in advance of salary , if yes so and of the year we calculate his salary + loan = and deducted TDS ?
Example:

A Yearly Salary :2,50,000
Loan without Interest :50,000 ( monthly Paid via Salary of Rs.5000/=)

So His Total Income 2,50,000 or 3,00,000
Reply Urgent

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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23 February 2016 If loan is repayable only calculate the interest on such loan normally payable as perks and work out TDS

Querist : Anonymous

Querist : Anonymous (Querist)

23 February 2016 Interest Rate as per sbi ...Ok

Interest Taxable only Employee account
and can cliam under 80 C ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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23 February 2016 SBI rate OK. 80c allowed only in case of housing loan.

Querist : Anonymous

Querist : Anonymous (Querist)

23 February 2016 Thanks Sir,
One Small Question ask to you, Employer give to the loan employee as purchase of house purpose but employee should invest other way to how to classification to income tax department...

Such Example : 1.House Renovation , Car Reparing , Student Education Purspose, etc

Reply urgent
thanks again

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