Rate of interest

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This discussion clarifies that the Income Tax Act doesn't specify minimum or maximum interest rates for cash loans or other lending. The rate is determined by the agreed terms between the parties involved. It addresses the assessment of interest payments and receipts on unsecured loans and cash debtors.

Kollipara Sundaraiah

Kollipara Sundaraiah (Querist)
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17 April 2020 I.t. assess interest payment and received on un secured loans and cash debtors for minimum rate of interest in I.t. act.

Aashok Kumar Sharma

Aashok Kumar Sharma

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05 May 2020 Your query is not clear. Please clearly explain the query.

Kollipara Sundaraiah

Kollipara Sundaraiah (Querist)
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05 May 2020 Assess normal rate of precent interest on cash given and taken loans as per I.t. act

Aashok Kumar Sharma

Aashok Kumar Sharma

(Expert)
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14 May 2020 There is nothing like minimum and maximum rate of interest for loan in cash or in any other cases. It is decided based on agreed terms with the other party.

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