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Interest on Loan to Partners

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(Querist)
21 October 2010 If Loan given by Partners to Partnership firm whether intt paid by Partnership firm to its Partners is disallowed or not.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
21 October 2010 Interest will not be disallowed if the rate of interest is at par with the bank rate.
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taxindiaconnect

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taxindiaconnect (Expert)
21 October 2010 Agreed
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ashok aggarwal

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ashok aggarwal (Expert)
01 November 2010 hi
interest will not be dissallowed if the rate of interest is at par with the bank rate or as per partnership deed

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