Interest on unsecured loan
This query is : Resolved
10 April 2012
R/All,
In case of Pvt. Ltd. Co., can we give the interest on unsecured loan to a Director ?
and what rate ?
In case of Pvt. Ltd. Co., can we give the interest on unsecured loan to a Director ?
and what rate ?
10 April 2012
Yes. Interest on Loan can be given to directors. Also deduct TDS thereon u/s 194A. No such specific rate. But it varies from 9 to 15%.
10 April 2012
Thanks plese
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