Hi Experts,
I need one clarification in case of perquisities on concessional loans.
If the company has given the loan on 5% and the SBI rate of interest for such loans is 10% and the employee pays the repayment installment with the payroll, then the perquisite should be calculated on which amount? Outstanding balance before such deduction of installment or the outstanding balance after the deduction of this installment?
Plz clarify.
regards
TS