Interesat on unsecured loan
This query is : Resolved
09 March 2012
I am working with proprietary concern which takes unsecured loan. Sec 194 A is applicable on interest on unsecured loan.. What will be the rate of interest(not of tds) in the absence of information...
10 March 2012
If it is interest free; no TDS is required.
.
Basic Concept :
.
TDS is deducted on the amount of payment; when no payment is made/payable; on which amount the tax would be deducted ?
.
( Answer lies in the question itself ).
.
Basic Concept :
.
TDS is deducted on the amount of payment; when no payment is made/payable; on which amount the tax would be deducted ?
.
( Answer lies in the question itself ).
Guest
Guest
(Expert)
10 March 2012
If you are asking about interest on loan them it must be comparable with market rate of interest.
02 April 2012
Generally there is no fixed rate of interest the rate which you have agreed with the lander is the rate of interest. If there is no rate fixed then you can charge 12% to 15% as the provision for partnership firm the interest @12% is allowed
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