Accounting treatment

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(Querist)
13 March 2020 Can repayment of interest for loan taken by business from relatives/friend be treated as indirect expense of the business?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
14 March 2020 Yes it's indirect expenses.
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shadab shaikh

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shadab shaikh (Querist)
14 March 2020 thank you sir
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CA Kaushal Sharda

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CA Kaushal Sharda (Expert)
14 March 2020 Agree with CA R SEETHARAMAN sir
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
14 March 2020 Welcome................
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CA M.Rajni Parthasarthy-Nov19

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CA M.Rajni Parthasarthy-Nov19 (Expert)
15 March 2020 Yes but the rate of Interest has to be at Arms Lenght/ reasonable rate to prevailing general market & not exhorbitant, Else excess will be disallowed
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