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Interest on loan taken to payout the dividend

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(Querist)
20 October 2015 we have proposal from our promoter company (outside India) that we should take a fresh loan of worth INR 50.00 crores from one of the group company in India to pay the dividend to my foreign promoters.

if I take this loan, can I claim the deduction of interest on such loan?
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Guest (Expert)
20 October 2015 Yes you can. But ensure that interest rate is in terms of market. If you have any further clarification PM Me

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