POSTED BY July 12, 2012 5:13 pm COMMENTS (4)ON
Request you to clarify me, whether I have to pay Income Tax on Soft loan to be taken from my company. They are offering Interest Free loan (which will be recovered back in 12 EMI).
Pl. Note: Last year, my company gave me 4000/- for purchasing mobile phone and deducted 10% as Income tax.
Am I required to pay IT on Soft loans? If so, at what rate I have to pay IT?
Pl. clarify., Regards, RAM