Vivek Khakhkhar (Assistant Audit Manager) (201 Points)
10 February 2015Hello Members,
What is the minimum interest rate on loan from directors that company has to pay as per companies act 2013?
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 10 February 2015
As far as company law is concerned, it is 0%. But you have convince the ITO doing assessment of the director's personal income tax.
CS MOHIT SALUJA
(PRACTICING CS Jalandhar 9914558709)
(5155 Points)
Replied 10 February 2015
Company act doesnot mention about the rate of interest to be givento directors while availing the loan
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