To determine the value of the perquisite arising from free or concessional loan given by the employer to employees, the Rate of Interest charged by the SBI, as on the first day of the relevant financial year, in respect of the similar loan is considered. The State Bank of India has released the Rate of Interest as on 1-04-2021.
from taxmann.com News https://www.taxmann.com/research/direct-tax-laws/top-story/222330000000021364/sbi’s-rate-of-interest-as-on-01-04-2021.aspx
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