Bank employees take note! Supreme Court says interest-free loans given to bank staff taxable as fringe benefits

Supreme Court has ruled that the interest-free or concessional loans given by banks to employees are taxable fringe benefits. The Supreme Court has ruled that using the SBI interest rate as the benchmark is not an arbitrary or unequal exercise of power as the rule-making authority has not treated unequal as equals.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Sij8m1l