About interest income
This query is : Resolved
04 January 2019
I am having business of labour contract. I also lending some money as loan to our labourer and their relative on interest. whether I can give loan on interest basis or not. whether the interest income is legal or not. I also offered this interest income in my return. please give urgent reply.
04 January 2019
you can give advance to them against wages/salalry. if your charge intt. then you have to offer for tax.
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