Interest rate to relatives
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 March 2012
Whether on a loan taken by HUF from members the interest must be charges or at which rate it should be charges. If a member has enough income and if decides not to take interest from HUF then whether he can do so?
21 March 2012
Interest to be provided at the bank rates or market rates.. would advice a rate of 12%..
Not charging interest would be a issue as the officer may add deemed income in the hands of the lender..
Not charging interest would be a issue as the officer may add deemed income in the hands of the lender..
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