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(Querist)
21 July 2008 there is an exemption of perquisite of interest free loan given to an employee if loan amount is less than RS.20,000

this amount of 20,000 is to be applied individually /in aggregate of all loans given to an smployee

EX:the followin loan is given to an employee mr.x........edu.loan-15000,house loan-15000

what is the perquisite in this case.is the exemption available as individual loan given is less than 20,000.
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
21 July 2008 The same will be a chargeable perquiste from the date the loans in aggregate exceed Rs. 20,000/-
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