What is meant by a perquisite rate? How do I calculate that?
When your employer provides you or any member of your household, an interest free loan or a loan at a concessional rate – it is chargeable to tax as a perquisite.
Zoho Payroll automatically calculates the perquisite charges for a loan once you input the perquisite rate. Ideally, it should match the SBI interest rate.
Zoho Payroll's support is always there to lend a hand. A well-deserved five-star rating!
