Interest free loan from employer.
Querist : Anonymous
I have a question, You all are requested to please response.
Employee A take Interest free Home Loan from his employer for Rs. 300000/-. For instance, SBI provides home loan on Interest @10%. So would Interest amount ,e.g. Rs. 30000/-, be taxable for A.Y. 2014-15. Because IT Deptt. has provided exemption on Home Loan Interest upto Rs. 150000/-.
So Would his Interest free loan be taxable ?
with regards to deduction under house property, that is available only if you actually incur the interest liability.
Querist : Anonymous
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