
Tax on Perquisites is a burning topic right now in India. The banks have been ordered to impose Tax on perquisites offered to its employees such as Tax on loans offered to employees at low interest rate.
This means that if a car loan is offered to public at 10% rate of interest and bank employees get car loan at 5.5% rate of interest, then Bank Employees will have to pay Tax on difference amount.
Bank Employees are protesting against this new policy imposed by Banks. In this controversy, an RTI was filed with Income Tax Department wherein detailes were requested regarding tax on perquisites imposed on employees of Income Tax Department. The purpose of RTI was to know whether tax on perquisites is applicable to staff of Income Tax Department or not. The Income Tax Department has provided following reply. The department has mentioned NA to all the questions regarding tax on perquisites.
Does this mean that employees of Income Tax Department need not pay tax on perquisites? This letter is going viral on social media and people are giving their opinions on this reply. As per the reply, it seems that tax on perquisites has not been implemented for employees of Income Tax Department. We are trying to collect more details regarding this matter.

Why only Income tax department, these questions, since involve larger public interest, must be asked from all the organisations in the country, Railways, Airport Authorities, Medical institutes, universities and technical institutes, private and government offices, including judiciary and parliament that whether the perquisites availed by them are being taxed and CBDT has decided any value for such perquisites or not. If such perquisite tax is imposed, who bears the burden of such additional tax??
Things are sure and clear; banks employees are not live to the present day political scene and situation. 2 . Their leaders are either worthless or hand in glove with the powers that matter.3 . Bank employees are or made to get dedicated to their routine work only ,knowing zero about their surroundings. 4 they are honest.
Me Lord found Bankers as soft target like orphanage. Me Lords are undoubtedly well educated and experienced but they didn’t try to find wheather they themselves are paying tax on their perquisites or not, for free vehicle, for free house sorry bunglow, servants and many more they even take summer and winter vacations like students. Before passing the verdict me lord should have taken reports from other all states and central govt organisations regarding perquisites in cash or in kind. Me lord is not considering the perquisites every govt officials getting in kind or perquisites are rights of government officials but not for PSUs.