Interest on loan taken to payout the dividend
This query is : Resolved
Hiren Parikh
(Querist)
20 October 2015
we have proposal from our promoter company (outside India) that we should take a fresh loan of worth INR 50.00 crores from one of the group company in India to pay the dividend to my foreign promoters.
if I take this loan, can I claim the deduction of interest on such loan?
if I take this loan, can I claim the deduction of interest on such loan?
Guest
Guest
(Expert)
20 October 2015
Yes you can. But ensure that interest rate is in terms of market. If you have any further clarification PM Me
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