Incometax calculation for Concessional or interest-free loans given by an employer
Updated: As per the amended finance act 2020 Interest-free loan or loan at a concessional rate of interest given by an employer to the employee (or any member of his household) is a perquisite chargeable to tax in the hands of the concerned employee under section 17(2)(viii) read with Rule 3(7)(i) of Income Tax act.…