Unsecured loan

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 September 2013 whether it is mandatory to charge intt on unsecured loan . if not can it depends upon profit & mood of owner

CA Pallav Singhania (Expert)
Follow

27 September 2013 Its depend upon the Agreement between the Parties, Lender and the Borrower...

Querist : Anonymous

Querist : Anonymous (Querist)

28 September 2013 If Their is no Agreement b/w both the parties

CA Pallav Singhania (Expert)
Follow

28 September 2013 There no such Rate specified for unsecured Loan..
The interest on an unsecured loan is not tax deductible.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Unanswered Queries

view all classess