Whether loan or Advance against Salary taxable?

Last updated at April 16, 2024 by

It is in nature of loan and hence not taxable

Loan anount cannot be taxed as Salary

However,we have studied in Perquisites that Interest free loan is taxable in certain cases

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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 14 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.