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Interest on loan from directors.

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(Querist)
14 January 2016 IS THERE ANY CEILING LIMIT FOR INTEREST ON LOAN FROM DIRECTORS FOR INCOME TAX PURPOSE IN CASE OF PRIVATE LIMITED COMPANIES?
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
14 January 2016 Interest should be payable at reasonable rates -prevalent in the market. Section 40A(2)(a) gives powers to the AO to deny excessive deduction.

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