Rule of perquisite value of advance

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sandeep kumar thakur (Querist)
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12 February 2009 may any one tell me the rule regrading perquisite value of advance/loan given to the employee by the employer.
thanks

K V Subba Rao

K V Subba Rao (Expert)
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12 February 2009 Step-by-Step procedure is available at Para 15.10 of 31st edition of Singhania's Direct Taxes Ready Reckoner

CA Nitin Wadhwani

CA Nitin Wadhwani (Expert)
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12 February 2009 Rate of interest offred by SBI on first day of financial year minus rate of interest charged by employer multiply outstanding monthly balance on loan amount exceeding 20,000/- = PERQUISITE VALUE.

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