Unsecured loans
This query is : Resolved
jatinderkumar
(Querist)
19 August 2008
sir i want to ask following questions on U/S Loans:
1.Whether it is mandatory to charge interest on unsecred loans for financial year 2007-08 if we have charged interest in the last financial year 2006-07?
2.Whether it is mandatory to charge interest on each unsecred loans if loan provider is not related with assessee?
1.Whether it is mandatory to charge interest on unsecred loans for financial year 2007-08 if we have charged interest in the last financial year 2006-07?
2.Whether it is mandatory to charge interest on each unsecred loans if loan provider is not related with assessee?
jatinderkumar
(Querist)
19 August 2008
what wil be its effects?????
sir my client is not charging interest on the avoid disallowance becoz party has not deducted TDS on such interest
so wt wil the posible solution in such case?
sir my client is not charging interest on the avoid disallowance becoz party has not deducted TDS on such interest
so wt wil the posible solution in such case?
S.Srinivasaraghavan
(Expert)
20 August 2008
Take a letter of interest waiver from the lender.
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