Charging of intrest by company

I want some body to help me in following case:

An EOU charged interest on loan given to its ditector, the company made some deposits in the bank and gets interest, the same rate of interest is applied while calculating the interest on loan. My question is whether  company can collect interets like this or if not charged interest on loan given to director what is the situation with respect to Income tax assessment. Kindly reply.

Thanks in advance

Bhushan

 

Replies (1)

I think the company can charge interest on loan.

However, if the company is charging lesser rate of interest , it has to be seen on the director's part, that whether the difference is to be condiered as income (perquisite)

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 30 September 2026
CA Article Assistant

CA Suraj Garg & Associates

New Delhi

CA Final

View Details
Company
15 September 2026
Client-site CA associate

Aditya Muley and Co

Mumbai

CA

View Details
Company
10 October 2026
Accounts Associate Level 1

Abic and Mani Chartered Accountants

Kottayam

B.Com

View Details
Company
08 October 2026
SALES TELECALLER

HIRE NOVA

Lucknow

Graduate (Any)

View Details
Company
ARTICLESHIP 08 October 2026
ARTICLE TRAINEE

S.B.G. & CO. CHARTERED ACCOUNTANTS

New Delhi

CA Inter

View Details
Company
17 September 2026
Chartered Accountant

Dass Gupta & Associates

Gurgaon

CA

View Details
Company
22 September 2026
Account Assistant

Chirag P Shah & Co. Chartered Accountant

Pune

B.Com

View Details
Company
05 October 2026
Senior Accountant

Vision IT Peripherals Pvt Ltd

Mumbai

B.Com

View Details