Interest on Unsecured Loans

Sourabh Ambure (student and entrepreneur) (137 Points)

07 March 2018

Is it Compulsory for Proprietary firm to Provide Interest on Unsecured Loans Recd relatives and others ? If Yes what is minimum rate of interest ?

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4 Replies

Rishi Mehta (Ur friend ) (1533 Points)
Replied 08 March 2018

Not compulsory to provide interest.

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 08 March 2018

No... It's not compulsory..

Sourabh Ambure (student and entrepreneur) (137 Points)
Replied 08 March 2018

Sir , Will it make any difference if loan accepting party is liable to tax audit u/s 44AB .

Krishan kant (student) (600 Points)
Replied 09 March 2018

no...

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