Interest on partner loan
This query is : Resolved
Saurabh Saini
(Querist)
17 September 2014
Hello,
Sir what is rate of interest on loan to partner(in partnership firm) as per income tax act?
Is it allowable if it is not mention in partnership deed?
Sir what is rate of interest on loan to partner(in partnership firm) as per income tax act?
Is it allowable if it is not mention in partnership deed?
Nikhil Kaushik
(Expert)
18 September 2014
there is no restriction on loan to partner.
18 September 2014
restriction is in relation to int on capital not loan under income tax act
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