08 April 2009
hi there can any one plz tell me that at what rate interest can be given to the partners on their capital. and wat rate of interest is given to others , whose money is deposited in the firm. please tell both the maximum and minimum rates, in both the cases.
09 April 2009
As per Income tax Act you can give maximum 12% interest to Partner's and in case of unsecured loan or deposit taken other then partner you can give as per your choice & market trend ie 6% to 18%
CAclubindia
