Unsecured loan from directors
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 October 2012
Any service provided by director to company is not covered under Negative List.
Accordingly, will service tax be applicable on interest paid by company to director.
if yes,is company liable for service tax liability?/
Accordingly, will service tax be applicable on interest paid by company to director.
if yes,is company liable for service tax liability?/
MOHAMMAD SALIM
(Expert)
12 October 2012
Interest on loan per se is exempt vide sec 66D of the Finance Act. Accordingly it would be exempt even if paid to director...
Hope this would settle the issuee...
Hope this would settle the issuee...
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