interest on loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 November 2010
interest free loan given by a borrower company is allowed as a deduction or not ?
CA.Madhusudan B.P.
(Expert)
10 November 2010
Its a refundable loan though interest free?
loans or advance given by the company are in the nature of Assets & not an item of expenditure.
loans or advance given by the company are in the nature of Assets & not an item of expenditure.
10 November 2010
when it's an intt free loan, where is the question of deduction? no notional interest is deductible.
taxindiaconnect
(Expert)
10 November 2010
Agreed with both the experts
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