whether provision of interest on unsecured loan is to be reported in clause 31 of 3CD
if yes, what should be written in mode of receipt? Should it be reported as otherwise than by cheque/dd/ecs
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269SS reporting
Replies (4)
No interest should not be reported.
In my opinion there is no need to report as there is no acceptance of loan.
Thank you sir! and if there is payment of interest provided by cheque should it be reported under 269t
Interest is not considered as loans and advances. Hence there is no need to report it.
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