banner_ad

Interest on unsecured loan

This query is : Resolved 
Profile Image

Profile Image

(Querist)
13 June 2012 Sir,

A private limited company has accepted unsecured loan form director and their relatives. Now is it compulsory for company to provide interest on loan accepted?

What will the consequence* if company do not pay interest to Director and their relatives?

(*Form Income tax and companies act point of view)
Profile Image

CA Yasaswy Sarma Veluri

Profile Image

CA Yasaswy Sarma Veluri (Expert)
13 June 2012 There is no consequence if the company doesnt pay interest to an unsecured loan either as per IT Act or the Companies Act.,
Profile Image

CA Siddhartha Bhardwaj

Profile Image

CA Siddhartha Bhardwaj (Expert)
13 June 2012 It is not compulsory to pay interest on unsecured loan.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details