unsecured loan
Ayush Maheshwari (Student) (138 Points)
21 July 2016
whether I can take unsecured loan from my family members and will pay them interest on it
2 Replies
CA Mehul Chudasama
(Chartered Accountant)
(618 Points)
Replied 22 July 2016
Yes You Can Take Unsecured Loan From your Family Member and Pay Interest on Them and if you are claiming this Interest under Business Expenses than be sure that Rate of Borrowing should not be more that Rate Specified by SBI On unsecures loan
And Just for future puropose if anyway your case selected for scrutiny puropose than you have to be Ledger confirmation with you
CA Mehul Chudasama
(Chartered Accountant)
(618 Points)
Replied 22 July 2016
And Please Loan Should be take by A/c Payee Cheque and Not In Cash
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