Ashok took an interest-free loan of ₹ 15,000 from B Ltd. (the employer). Assuming that the market rate of interest on similar loan is 10%, the taxable value of the perquisite in the hands of Ashok will be –
A. ₹ 150
B. ₹ 1,500
C. Nil
D. None of these
Answer:C
Ashok took an interest-free loan of ₹ 15,000 from B Ltd. (the employer). Assuming that the market rate of interest on similar loan is 10%, the taxable value of the perquisite in the hands of Ashok will be –
A. ₹ 150 B. ₹ 1,500 C. Nil D. None of these