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salary advance to employee on interest

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(Querist)
16 November 2010 Hello,

My doubt is if a company gives salary advance to employee on say 10% interest and company is receiving interest earned then whether any TDS is involved in this situation?

surya
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
16 November 2010 Interest paid by salaried Individual so they no need to deduct the TDS on their payment
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O.D.SHARMA

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O.D.SHARMA (Expert)
17 November 2010 Hi,
TDS & Interest are different.these are not connected.Your TDS will be on liability(if u are in Tax slab) .Interest is fixed.
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