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Tds on perquisite

This query is : Resolved 
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(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.
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CA Pradeep Kumar Rajput

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CA Pradeep Kumar Rajput (Expert)
30 January 2012 TDS is to be deducted from salary by adding the amount of interest on loan in salary.....
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