It section 40(b) interest on capital
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 September 2014
Dear All,
as per IT section 40(b) Interest on capital rate 12% allowed.
but i have to know can we charge less than 12% interest on capital.
pls advice
as per IT section 40(b) Interest on capital rate 12% allowed.
but i have to know can we charge less than 12% interest on capital.
pls advice
13 September 2014
Yes you can .
Interest allowable maximum is 12% u/s 40(b)
Interest allowable maximum is 12% u/s 40(b)
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 September 2014
exactly sir we can't charge more than 12%.
but can i charge below 12% (eg. 6%)
but can i charge below 12% (eg. 6%)
22 October 2014
Yes,
You can charge less than 12% as per partners agreed .
You can charge less than 12% as per partners agreed .
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