An interest-free loan provided by an employer to an employee is considered a taxable perquisite in many jurisdictions, including under the Internal Revenue Code in the United States. The tax treatment of this benefit can be complex, and the specifics depend on the amount of the loan, the applicable ...
When you take out a loan from a Non-Banking Financial Company (NBFC), you might come across various fees, including loan processing fees. Understanding how Tax Deducted at Source (TDS) applies to these fees is crucial for both financial planning and compliance. This article delves into the nuances o...
In recent years, the Indian tax regime has undergone significant changes, impacting the financial landscape for many taxpayers. One of the key areas of concern for individuals with home loans is whether the interest on home loans remains tax-deductible under the new tax regime. This article provides...
For the Financial Year (FY) 2023-24, the Tax Deducted at Source (TDS) rate on interest earned from unsecured loans has been a critical point of discussion for both lenders and borrowers. This rate determines the amount of tax that needs to be withheld from the interest payments made on unsecured loa...
Interest-free loans are a common benefit provided by employers to their employees. However, these loans are not entirely free of tax implications. In many countries, such loans are considered a form of perquisite, and as such, they may be subject to taxation. Understanding how to calculate the tax o...
In Hong Kong, the home loan interest deduction is a significant tax benefit for property owners. This deduction can substantially reduce your taxable income, making home ownership more affordable. However, understanding the specifics of how this deduction works and who qualifies can be complex. This...
