Interest is a part or salary or Not?

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Naveen Ahlawat (Querist)

08 April 2010 R/sir,

I want to know that If we are assumeing Mr. A is an employee in our company.His salary is over 50 lakhs. as well as we are paying interest to Mr. A agst his salary amount treated as an unsecured loan.

My question is that this interest is a part of income from salary or Other than salary or in which section we are deduct the tds on interest (192B or 194A) or both.

PLEASE REPLY ME IN SECTION AS WELL.

Regards,
Naveen

CA Ashok Kumar Sahu

CA Ashok Kumar Sahu (Expert)

08 April 2010 AS PER MY OPINION

YOU ARE TREATED UNPAID SALARY OF MR A AS A UNSECURED LOAN, HENCE INTEREST ON THE SAME IS INCOME FROM OTHER SOURCES DEDUCT TDS U/S 194A

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)

08 April 2010 AGREE WITH ASHOK JI

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

08 April 2010 interest is not part of salary

Naveen Ahlawat

Naveen Ahlawat (Querist)

09 April 2010 R/ALL

MY QUERY IS STILL OPEN.

REGARDS
NAVEEN

Naveen Ahlawat

Naveen Ahlawat (Querist)

09 April 2010 THANKS FOR YOUR REPLY.

REGARDS
NAVEEN

Naveen Ahlawat

Naveen Ahlawat (Querist)

09 April 2010 ONE MORE QUESTION RELATED TO THIS I WANT TO KNOW THAT THERE IS SOME PROBLEM IF WE ARE IN THE ASSESSMENT OF INCOME TAX OR NOT?

REGARDS
NAVEEN

CA Ashok Kumar Sahu

CA Ashok Kumar Sahu (Expert)

09 April 2010 I THINK NO PROBLEM IN ASSESSMENT, IF PAYMENT OF SALARY IS GENUINE.

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