excess bouns paid to employee transfer to loan a/c
This query is : Resolved
13 March 2009
if company paid excess bonus and after that they deducted excess amount and transfer to theres loan a/c so the amount transfer to loan a/c or excess paid of bonus amount is taxable or not
13 March 2009
If the loan is going to be recovered then it will not be taxable. However if the amount is very huge then the deemed interest will be calculated on the loan and it will be treated as perquisite.
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