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Perquisites - Interest Free or Concessional Loan to Employee - (New) Rule 15(5)(a) / (Old) Rule 3(7)(i)

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....ities of the nature of Interest Free Loan or Concessional Loan shall be determined in accordance manner mentioned below and subject to conditions: Taxable Perquisite Value = (SBI Rate x Max Monthly Outstanding Loan) - Interest actually paid by employee Key points: • Use the rate charged by State Bank of India • Rate considered = as on 1st day of the releva....

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....er the Income Tax Act, 1961 [ Upto 31.03.2026 ] Interest Free or Concessional Loan to Employee [ Rule 3(7)(i) of the Income Tax Rule, 1962 ] The provisions contained in section 17(2)(viii), the other benefits or amenities and value thereof shall be determined in the manner provided in rule 3. Taxable value will be Interest for each month of the PY on "Maximum outstanding monthly....

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