1.Interest-free or concessional loan [Sub-rule 7(i) of Rule 3]
Any loan given free of interest or concessional interest shall be a taxable perquisite and calculated as follows:
- Find out the ‘maximum outstanding monthly balance’ (i.e. the aggregate outstanding balance for each loan as on the last day of each month);
- Find out rate of interest charged by the SBI as on the first day of relevant previous year in respect of loan for the same purpose advanced by it;
- Calculate interest for each month of the previous year on the outstanding amount (mentioned in Step 1 at the rate of interest given in Step 2)
- From the total interest calculated for the entire previous year (step 3), deduct interest actually recovered, if any, from employee
- The balance amount (Step 3-Step 4) is taxable value of perquisite.
Nothing is taxable if:
- Loan in aggregate does not exceed ₹ 20,000; or
- Loan is provided for treatment of specified diseases
2.Use of moveable assets [Sub-rule 7(vii) of Rule 3]
Value of perquisite is determined as under:
| Asset given | Value of benefit |
| (a) Use of laptops and computers | Nil |
| (b) Movable assets, other than – (i) laptops and computers; and (ii) assets already specified | 10% p.a. of the actual cost of such asset, or the amount of rent or charge paid, or payable by the employer, as the case may be (-) Amount paid by/recovered from an employee |
Note: Where the employee is paying any amount in respect of such asset, the amount so paid shall be deducted from the value of perquisite determined above.
3.Transfer of moveable assets [Sub-rule 7(viii) of Rule 3]
Value of perquisite is determined as under:
| Assets transferred | Value of perquisite |
| Computers and electronic items | Depreciated value [@50% on WDV] of the asset |
| Motor Cars | Depreciated value [@20% on WDV] of the asset |
| Any other asset | Depreciated value [@10% on SLM] of the asset |
Note: Where the employee is paying any amount in respect of such asset, the amount so paid shall be deducted from the value of perquisite determined above.
*Note WDV is Written down value and SLM is Straight Line Method