Housing loan taken from employer

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ramana (Querist)
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19 January 2013 Hi Vaibhav i have some problem for housing loan. one of my employee taken housing loan from employer (interest free) amount 25,00,000 on different dates of financial year 2012-13. how to calculate interest (sbi rate) on different dates. plz urgent. i am an accountant. plz urgent

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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19 January 2013 You need to arrive the interest based on the number of days or month on outstanding balance of loan. suppose first disbursement in 1st April Rs.10000/-and 2nd disbursement in 1st July Rs.10000/- then you need to arrive the interest for Rs.10000 for 3 months & Rs.20000 from July 1st to till next disbursement

ramana

ramana (Querist)
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19 January 2013 ok thx ramesh krishnan good working
i have doubt for salary break up, one of my employee drawing salary 10,20,000pa. how to break up salary for tds

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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19 January 2013 Salary break up is based on the employer salary policy. generally break up will be given for better tax savings objective. Basic,HRA,Transport allowance,LTA etc.

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