concessional interest loan

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Querist : Anonymous

Querist : Anonymous (Querist)

25 November 2010 please tell me what is the sbi rate for tax calculation on concessional int loan.

Presently my company giving HL loan @ 2% per annum.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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25 November 2010
visit this link

http://www.statebankofindia.com/user.htm

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Manmohan ACA, CS

Manmohan ACA, CS (Expert)
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25 November 2010 The valuation will be done the basis of interest charged by State Bank of India on first day of relevant previous year .So for the Financial year 2009-10 the rate of SBI as on 01/04/2009 will be applicable.

for rate
visit
http://www.simpletaxindia.org/2009/12/concessionalinterest-free-loan-employee.html

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Querist : Anonymous

Querist : Anonymous (Querist)

26 November 2010 pls advice if there is any change in SBI rate due to applicability of SBI base rate in place of PLR?