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Unsecured loan

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Querist : Anonymous

Querist : Anonymous (Querist)

27 September 2013 whether it is mandatory to charge intt on unsecured loan . if not can it depends upon profit & mood of owner

CA Pallav Singhania

CA Pallav Singhania (Expert)
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27 September 2013 Its depend upon the Agreement between the Parties, Lender and the Borrower...

Querist : Anonymous

Querist : Anonymous (Querist)

28 September 2013 If Their is no Agreement b/w both the parties

CA Pallav Singhania

CA Pallav Singhania (Expert)
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28 September 2013 There no such Rate specified for unsecured Loan..
The interest on an unsecured loan is not tax deductible.

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