Pls help

Supreme Court verdict. 

Ram Leela Limited decided to give loan to its employees so that the loan amount would be placed with a co-operative bank as fixed deposit, wherein the employee earned 12 per cent interest and paid the company 2 per cent ensuring that the employee earned a clear 10 per cent. Now the AO said that in this case he would tax the net interest income under the head "Income from Other Sources" and also include the differential interest earned by the employee as perquisite chargeable under the head "Salary Income". 
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In the verdict given by the Supreme Court in V M Salgaocar & Bros, the apex court also specified that the verdict remains unaltered whether the loan was given for house construction or for some other purposes. Hence, it is amply clear that regardless of the end use of the loan, any concession with regard to such loans given by the employer to his employee is not a perquisite chargeable to tax. 

Any loan that is given by an employer to his employee is taxable as a perquisite...

If its free loan then find the monthly outstanding balance ,and find interest at rate specified by SBI for similar kind of loan as on the first day of the FY

If loan is given at concessional rate then find the interest charged by the employer and interest charged by SBI.the difference becomes taxable...

Refer:

/forum/tips-for-solving-perquisite-application-problem-dont-miss-i-136366.asp

The housing loan availed at a rate lower than SBI rate will be a taxable perquisite and it should be required to be calculated on maximum monthly outstanding balance