Income tax query


This query is : Resolved 

Quick Summary
This discussion clarifies that paying interest on unsecured loans for proprietorships and firms is not automatically mandatory. Whether interest is required depends on the specific circumstances and the terms agreed upon in the loan agreement.

30 January 2021 sir,
is it manadatory to give interests to unsecured loans by proprietoryships and firms.

30 January 2021 Not mandatory.....................

30 January 2021 Its not mandatory, it depends on circumstances and conditions of loan.


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