Interest on unsecured loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 April 2015
as now from 01/04/2014 company cannot accept deposits/loans from shareholders.
interest accrued on unsecured loan(accepted before 01/04/2014) which is not considered as deposits is yet not paid.
does it considered as loan /deposit accepted during the year.
actually its o.s expenses payable.
please give your suggestions.
interest accrued on unsecured loan(accepted before 01/04/2014) which is not considered as deposits is yet not paid.
does it considered as loan /deposit accepted during the year.
actually its o.s expenses payable.
please give your suggestions.
Pratik Shah
(Expert)
20 April 2015
Yes, you are correct. It will not be considered as deposit accepted during the year.
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