https://www.taxtmi.com/notifications?id=5511 The amendment to Rule 3(7)(i) of the Income-tax Rules, 1962 prescribes that the deemed interest on a concessional loan to an employee or household member shall be determined as the interest computed at the rate charged per annum by the State Bank of India for loans for the same purpose as on the first day of the relevant previous year, replacing the prior wording referencing a fixed concessional/other loan rate. en-us Mon, 12 Jan 2004 00:00:00 +0530 Thu, 24 Jul 2008 12:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=5511 The amendment to Rule 3(7)(i) of the Income-tax Rules, 1962 prescribes that the deemed interest on a concessional loan to an employee or household member shall be determined as the interest computed at the rate charged per annum by the State Bank of India for loans for the same purpose as on the first day of the relevant previous year, replacing the prior wording referencing a fixed concessional/other loan rate. Notifications Income Tax Mon, 12 Jan 2004 00:00:00 +0530 https://www.taxtmi.com/notifications?id=5511