Income from the head salaries
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 March 2015
Why is loan taken by an employee from recognized provident fund(maintained by employer) not taxable?
11 March 2015
because for anything to become taxable it has to be an "income" as per definition of sec 2(24) of income tax act and in this case loan does not fall in definition of income and hence not taxable.
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