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Interest on Loan Shouldn't be deducted

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Hi Friends,

 

We have a requirement as below on Loans:

 

Interest on Loans shouldn't be deducted from employee total earnings, please consider below example for simple understanding.

 

Let us say:

 

Monthly Repayment on Loan = 1000

Interest = 100

Actual Loan payment = 900

 

In payslip they wanted to show 900 as deduction & 100 as employee benefit/ perquisite (Taxable income).

 

So they don't want to deduct interest from employee, is it possible as per statutory and SAP ?

 

 

 

Please suggest how to achieve it.

 

 

 

Regards,

Lakshmi.


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