Is Soft Loan taken from the employer considered as Salary and is it Taxable?


My Employer offers 1L as Soft Loan without any interest for a period of 12 Months. I fall in 30% Tax Bracket. Im planning to take a soft loan for just 1 installment. In this case will this be still attract TDS?

Or is there any exempt for Soft Loan? Please help


Soft loans of up to ₹20,000 are exempt. However, as your loan amount is ₹1 lakh, TDS will be applicable on the interest (interest is calculated as per rates specified by SBI).

Hope this helps!