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Interest payable to director on loan

This query is : Resolved 
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(Querist)
23 October 2012 Dear Experts

Can we pay interest to directors on loan taken from them?

Please let us know the max allowable percentage up to which we can pay the interest to directors.

With Regards
Anil Chavan
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Arun Biyani

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Arun Biyani (Expert)
23 October 2012 yes you can pay. There is no limit as such but it should not be excessive compare to prevalling market rate. you have to see what rate is going on in the market and terms and conditions and security provided in your case and decide then..
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