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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

  1. Income Tax
  2. Income from Salaries
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CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 8 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .
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