Interest pay compulsory on un secured loans
This query is : Resolved
14 December 2021
Sir,
It assessee cash loans from different creditors each one rs:19,000/-* 10 members total rs:1,90,000/- received in f.y.21-22 . if cash loans repayment rs:19,000/- *10 members total rs:1,90,000/- to creditors f.y.21-22.interest not pay principal amount only.
Question:
Assessee interest amount pay compulsory or not.
It assessee cash loans from different creditors each one rs:19,000/-* 10 members total rs:1,90,000/- received in f.y.21-22 . if cash loans repayment rs:19,000/- *10 members total rs:1,90,000/- to creditors f.y.21-22.interest not pay principal amount only.
Question:
Assessee interest amount pay compulsory or not.
14 December 2021
NOT COMPULSORY.
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