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Interest on Unsecured Loans
Is it Compulsory for Proprietary firm to Provide Interest on Unsecured Loans Recd relatives and others ? If Yes what is minimum rate of interest ?
Replies (4)
Not compulsory to provide interest.
No... It's not compulsory..
Sir , Will it make any difference if loan accepting party is liable to tax audit u/s 44AB .
no...
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