Public deposits
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 November 2015
Is there any restriction on rate on interest payable on public deposit?
assessee wants to give int@36%p.a. On public deposits received by them. Whether it is permissible under IT ACT &THE CO.ACT?
assessee wants to give int@36%p.a. On public deposits received by them. Whether it is permissible under IT ACT &THE CO.ACT?
21 November 2015
Under the companies act it can't exceed 12.5% which is permissible under IT act also.
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