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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Davneet Singh's photo - Teacher, Computer Engineer, Marketer
Davneet Singh
Davneet Singh is a graduate from Indian Institute of Technology, Kanpur. He has been teaching from the past 8 years. He provides courses for Maths and Science at Teachoo. You can check his NCERT Solutions from Class 6 to 12.