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Loan taken for Medical emergency

G. Parameshwar Rao (Accounts officer) (66 Points)

01 August 2021

Dear sir,

I have a query that one of the employee has taken loan of Rs.100,000/- on medical emergency for his sister for Covid treatment.

Do we need to calculate perquisite on the loan paid to the employee.

Please elaborate on this topic.

Thanks and Regards
Parameshwar

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5 Replies

CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 01 August 2021

No as loan is taken from relative

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Ankit Neema (2742 Points)
Replied 01 August 2021

I think the same is taxable as perquisites,

Mr. Sourav You again not read the question properly, loan is not taken from relative , loan is taken from employer,

CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 01 August 2021

Yes it was a typo mistake

Ankit Neema (2742 Points)
Replied 01 August 2021

But there are others answers also where you answered wrong

Mushtak Ahmad (6 Points)
Replied 13 June 2024

For a medical emergency, securing a loan swiftly is crucial. Kotak Mahindra Bank offers Personal Loans designed to meet urgent medical needs with minimal documentation and quick disbursal. The bank provides flexible repayment options and competitive interest rates, ensuring you can focus on recovery without financial stress. To apply, you can visit the Kotak Mahindra Bank website, submit necessary documents, and get approval in as little as 24 hours. This rapid process helps you cover medical expenses promptly, providing peace of mind during critical times.