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Unsecured loan from directors

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Querist : Anonymous

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Querist : Anonymous (Querist)
12 October 2012 Any service provided by director to company is not covered under Negative List.

Accordingly, will service tax be applicable on interest paid by company to director.

if yes,is company liable for service tax liability?/
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MOHAMMAD SALIM

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MOHAMMAD SALIM (Expert)
12 October 2012 Interest on loan per se is exempt vide sec 66D of the Finance Act. Accordingly it would be exempt even if paid to director...

Hope this would settle the issuee...

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