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interest on loan

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Querist : Anonymous

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Querist : Anonymous (Querist)
09 November 2010 interest free loan given by a borrower company is allowed as a deduction or not ?
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CA.Madhusudan B.P.

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CA.Madhusudan B.P. (Expert)
10 November 2010 Its a refundable loan though interest free?

loans or advance given by the company are in the nature of Assets & not an item of expenditure.
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CA.Pujah

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CA.Pujah (Expert)
10 November 2010 when it's an intt free loan, where is the question of deduction? no notional interest is deductible.
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taxindiaconnect

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taxindiaconnect (Expert)
10 November 2010 Agreed with both the experts

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