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Interest on unsecured loan

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(Querist)
14 September 2014 hello , i want to know that kya unsecured loans par Interest charge karna Mandatory hai in the books of a/c, & if yes then what will be the minimum and maximum rate upto which interest can be charged. Also explain whether tds will be deducted if interest is charged on unsecured loan. ?


Thanks In Advance....
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
14 September 2014 it is not mandatory. But always advisable to charge. There is no minimum or maximum rate.

TDS is to be deducted as per section 194A
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