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Interest on unsecured loan

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31 August 2012 helo sir
is there any mandatory to provide interest on unsecured loan from relative & Non relative for propritor for laon used for personal? tax audit is not applicable to propritor.
if yes, what percentage? and
which section of income tax
plz help



31 August 2012 No its not compulsory

31 August 2012 Even U Taken Unsecured Loan & Tax Audit is Applicable, Then Also Interest No Need to Provide.


31 August 2012 Thank u very much




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