Section 40a(2)(b) of income tax act
This query is : Resolved
16 February 2012
Hi..
Wanted to know what is the rate of interest allowed u/s 40A(2)(b) of IT act if interest is paid to the directors.
Also is it applicable for partnership firm or pvt ltd companies also
Please do revert
Regards,
Prashant Sawant
Wanted to know what is the rate of interest allowed u/s 40A(2)(b) of IT act if interest is paid to the directors.
Also is it applicable for partnership firm or pvt ltd companies also
Please do revert
Regards,
Prashant Sawant
16 February 2012
Practically the officers allow interest payments upto 15%.. however i recommend to provide for interest upto 12% which is average to the market rates..
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
- Itr 1 processing
- Off Market debit and credit transaction
- Reporting Income under Section 44ADA
- Showing Gift from relative in ITR for this year
- ITR returnFY25-26
- ITR 2 Short Term gain & Long term gain
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
