Interest paid to directors on their loans given to compan
This query is : Resolved
Basavanna v
(Querist)
28 May 2013
If A pvt ltd co get loan from their Directors for their operation purpose and director charge interest on that amount whether it is allow as per companies act and treatment in income tax pls urgent ?
Rupesh Jain
(Expert)
28 May 2013
loan is genuine and interest rate as per current market rate .
then it allowed
then it allowed
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