Interest Free Loan Against Rent Receivables
This query is : Resolved
21 April 2022
Hi all, one of my client has business asset of Building as Fixed asset in books of accounts. and he is now wanted to renting to the other person by taking interest free loan from the tenant. and no rent is charging from him and interest will not be paid on loan.
So what is the treatment of such interest free loan against rent receivable in the books of accounts and as per income tax act.
So what is the treatment of such interest free loan against rent receivable in the books of accounts and as per income tax act.
21 April 2022
Utilise that loan in the business to save any interest payment or put it FD and account interest income in books of accounts.
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