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Interest rate to relatives

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 March 2012 Whether on a loan taken by HUF from members the interest must be charges or at which rate it should be charges. If a member has enough income and if decides not to take interest from HUF then whether he can do so?
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CA. Hari Kishan

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CA. Hari Kishan (Expert)
21 March 2012 Interest to be provided at the bank rates or market rates.. would advice a rate of 12%..

Not charging interest would be a issue as the officer may add deemed income in the hands of the lender..

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