Tax Audit 269SS & T

This query is : Resolved 

01 September 2008 Is Interest charged on Loan during the year

added Or not

in Loan Taken /paid during the year Colum

Plese Clarify

01 September 2008 TO BE ADDED. PL REFER CIRCULAR 522 DT 18-8-1988 AND 479 DT.16-1-1987.

20 April 2010 I am sorry to disagree with Mr. Chakrapani. I don't think that interest accrued should be reported as loan/ deposit received or accepted.


21 June 2010 interest is covered

03 August 2010 I believe, opinion of Mr Chakrapani is correct in view of the fact that interest accrued on the deposit/loan and credited to the account periodically or otherwise partakes the character of a deposit/loan and as such becomes a deposit/loan itself, so the same should also be considered.



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries