Income from salary-perquisite
This query is : Resolved
ritika kumari
(Querist)
11 August 2011
R took loan on1-4-2010 of rs.600000,for treatment of specifed disease .He spent total amount on medical treatment and received rs400000 from insurance co. on 1-9-2010.he did not pay any amount to his employer.SBI intrest rate is 12%.find the intrest amount.
CA PARAS BAFNA
(Expert)
11 August 2011
Interest will be added as perquisite of Rs
400000*.07= 28000.
400000*.07= 28000.
U S Sharma
(Expert)
11 August 2011
600000*12/100*5/12=30000 for 5 months
200000*12/100*7/12=14000 for 7 months
assumed that 4 lacs received from insurance company is used to repay the SBI loan.
200000*12/100*7/12=14000 for 7 months
assumed that 4 lacs received from insurance company is used to repay the SBI loan.
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