Charging different interest rate for same entity
This query is : Resolved
31 July 2020
I am taken OD of 50 Lakhs INR and given loan to my relative of 50 lakhs INR. Another loan given to same relative of 40 Lakhs. i have maintain two separate ledger in my books and till march i have charged same interest rate in both account. During last year i have repay OD amount of 50 Lakhs and took new OD of 25 Lakhs but my relative not paid principle amount. he only pays interest amount. Now i want to change interest rate i.e for Loan given against of 50 Lakhs reduced to 25 Lakhs and and Balance 25 Lakhs transferred to Another Loan Account i.e 40 Lakhs + 25 Lakhs = 65 Lakhs And different interest rate for 25 Lakhs and 65 Lakhs from same person.
Is it possible to do ?
Is it possible to do ?
10 August 2020
What was the old & new rate of interest ?
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- TAN for Partnership
- Sales return eway bill
- Treatment of Pension ?annuity returns on PMVY
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Taxation on LTCG for property sold after 24JUL2024
- GST ON DAMAGED GOODS
- GST Registration Horse racing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
