No tax exemption on concessional or interest free loan from the employer, not even for bank employees, says SC

Tax on concessional interest rate loan: The Supreme Court of India has stated that bank employees have to have income tax if they have availed loan from their employers at concessional interest rate or interest free rate. However as per our calculations, even if bank employees pay income tax on this loan, they will still have some savings.

from Tax-Wealth-Economic Times https://ift.tt/HNItSM3