minimium rate of interest on loan given & taken to sec 301 p
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 May 2010
in case of pvt ltd company what is the minimium limit of rate of interest on loan given & taken to & form sec 301 parties
27 May 2010
There is no minimum rate prescribed under the companies act. The rate should not be lower than the average cost of borrowing of the company. Otherwise it would be deemed to be prejudicial to the interest of the members of the company.
Sec 372A states that the rate should not be lower than bank rate. This is not applicable to private limited co.
Sec 372A states that the rate should not be lower than bank rate. This is not applicable to private limited co.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting our of sec 44AD
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Transporter Declaration form
- Regarding TDS Applicability For Director Remuneration
- Multiple trade mark
- Value of property in capital gain
- LC charges in relation to Asset purchased should be Capitalised ?
- Copyright software
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- RULE 86B APPLICABILITY IN QRMP TAX PAYER
- Regarding appeal to GSTAT
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
