Interest on unsecured loan
This query is : Resolved
Pradip patel
(Querist)
06 May 2015
dear sir/madam
plz guide me on,is it compulsory for pvt ltd. company to debit interest expence on its unsecured loan from outsider?
in case realy there is no interest expence for this loan.
so can i ignore interest expence if i wish so?
plz guide me on,is it compulsory for pvt ltd. company to debit interest expence on its unsecured loan from outsider?
in case realy there is no interest expence for this loan.
so can i ignore interest expence if i wish so?
Nikhil Kaushik
(Expert)
16 May 2015
the charging of interest is governed by the loan documentation itself. so if there is no interest provided in the loan agreement, no interest is to be provided for.
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