Is Overdraft in nature of loan for the purpose of the CARO R

Tax queries 643 views 1 replies

Is the Overdraft to be conssidered in the nature of loan for the purpose of the applicability of the loan?

Replies (1)

Dear,

Yes.

 

Loan from banks or financial institutions are normally in the form of

 

Term loan

Export credits

Working capital limits

Cash credits

Overdraft facilities

Bills purchased or discounted.

 

 

Regards

 

K.Ilayaraja


CCI Pro

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