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Income from salary-perquisite

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(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.
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
11 August 2011 Interest will be added as perquisite of Rs
400000*.07= 28000.
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U S Sharma

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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.
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