Interest on unsecured loan
This query is : Resolved
30 April 2013
We are finalising the books of a Listed Co. I have been asked to provide for the interest expense on an unsecured loan that we had taken from a related party.
At what rate of interest should i book this expense? Is there a statutory limit on the maximum rate of interest that would be allowed as expense???
Plz help!
At what rate of interest should i book this expense? Is there a statutory limit on the maximum rate of interest that would be allowed as expense???
Plz help!
12 May 2013
Interest rate may be agreed by both parties which is arms length in nature. there is no statutory fixed interest rates, in case borrowing company has any other third party loans and paying interest, the interest rate will not be lower than that rate
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- GST on export of services and Input Credit
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
