Tds on perquisite
This query is : Resolved
Sumeet Agarwal
(Querist)
30 January 2012
Please advice me in regard to the following query :
A Company has paid advance of Rs.50,000/- against salary to his employee.As per my knowledge, this advance against salary is in nature of interest free loan and a perquisite value of interest on loan as computed with reference to Rule 3A of IT Rules,1962 shall be chargeable under the head"Salaries". I have doubt about whether employer has to deduct TDS on the interest amount or not.
A Company has paid advance of Rs.50,000/- against salary to his employee.As per my knowledge, this advance against salary is in nature of interest free loan and a perquisite value of interest on loan as computed with reference to Rule 3A of IT Rules,1962 shall be chargeable under the head"Salaries". I have doubt about whether employer has to deduct TDS on the interest amount or not.
30 January 2012
TDS is to be deducted from salary by adding the amount of interest on loan in salary.....
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- GST input credit on commercial property
- Working on Gold wastage during Melting of old gold jewellery
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- GSTR-9C filing
- TDS on Dashcam rent and allied services
- Import Order Cancelled.
- Advances to related party
- GST ITC as per notification 12/2023- central tax
- Urd purchase entry in tally prime
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
