WE HAVE RECD 6 LAKH FROM A RESIDENT IN OUR FIRM AS UNSECURED LOAN IN 2011. NOW WE HAVE TO PAY THIS AMOUNT. CAN WE PAY WITHOUT INT. PLS CONFIRM.
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Unsecured loan
Replies (2)
No problem as such to Borrower, but AO may add notional interest to Lender.
further you can debate with the AO for the notional interest stating the HERO cycle case in which supreme court negating all the attempts of AO to step in the shoes of business men and decide what should have been done...
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