Loan to employee
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 January 2017
Dear All
Company has given interest free loan to employee. However this loan will be return by employee in one time Not deduction from employee salary. Pls clarify weather this loan is to be treated as perquisite and taxable under rule 3(7)(i) of income tax rule?
Please guide....
Regds
Arun
Company has given interest free loan to employee. However this loan will be return by employee in one time Not deduction from employee salary. Pls clarify weather this loan is to be treated as perquisite and taxable under rule 3(7)(i) of income tax rule?
Please guide....
Regds
Arun
18 January 2017
Yes it will be treated as perquisite.
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