Minimum and maximum rate of interest

dbhasakararao (consultant) (64 Points)

17 August 2022

Respected sir...please advice minimum and maximum rate of interest paid to partners on their capitals.....

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3 Replies

Shruti (Student ) (586 Points)
Replied 17 August 2022

Maximum rate is 12%p.a. There is no minimum rate prescribed.

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CA Rashmi Gandhi (Chartered Accountant) (86461 Points)
Replied 17 August 2022

For that check partnership deed, as per income maximum allowed rate is 12%

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Sai Allu (754 Points)
Replied 21 August 2022

Under the Income Tax Act, the maximum interest at the rate of 12% p.a. is allowed. Any amount paid exceeding the effective rate is disallowed as ...

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