Interest on directors loan
This query is : Resolved
06 June 2013
please confirm me that if a pvt. ltd. co. have received a unsecured loan from directors, then he is liable to pay interest on this loan amt.and if liable to pay interest then at what rate of interest will charged on this loan amt. please provide suggestion about this.
Thanks
sanjay
Thanks
sanjay
Rupesh Jain
(Expert)
17 June 2013
company will give rate of intt.
but no rate is spcified.
but due to safe way
give rate below bank rate
and deduct TDS on that amount
but no rate is spcified.
but due to safe way
give rate below bank rate
and deduct TDS on that amount
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