HELLO FRIENDS, MY CLIENT HAS NOT ACCEPTED ANY LOAN DURING THE YEAR BUT PROVIDE INTEREST ON ALREADY TAKEN LOANS. WHETHER THIS INTEREST IS ALSO TO BE REPORTED U/S 269SS OR NOT.
PLS. HELP ME.
THANKS.
RAJ KUMAR (FINANCE MANAGER) (1393 Points)
09 September 2013HELLO FRIENDS, MY CLIENT HAS NOT ACCEPTED ANY LOAN DURING THE YEAR BUT PROVIDE INTEREST ON ALREADY TAKEN LOANS. WHETHER THIS INTEREST IS ALSO TO BE REPORTED U/S 269SS OR NOT.
PLS. HELP ME.
THANKS.
CA and CMA Ravinder Singh
(CA and CMA)
(853 Points)
Replied 10 September 2013
no. it is only required to be reported in sec. 40A(2)(b) if it has been paid to a related party
Master GSTR-9 and 9C with India's First Unique Live Course with Live practical training
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(without recording)
CAclubindia
