Allowing expense on loan interest
This query is : Resolved
11 April 2022
I am a director of private limited company and I have provided a loan to my company by taking loan from bank . My company provided interest on loan and I paid interest to bank. In this case can I claim the bank interest as expense while I filing my IT return?
12 April 2022
Yes, you can claim............
12 April 2022
Is there any restriction under companies act while providing loan to a company by taking loan from financial institution
12 April 2022
No restrictions in case of bank loan.
13 April 2022
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