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of <h1>Legal manual defines interest as compensation for money use, calculated daily regardless of payment intervals</h1> A legal manual defining 'interest' under Indian law provides comprehensive definitions from multiple authoritative sources. Interest represents compensation for money use or retention, calculated as return for funds belonging to another party. Legal definitions encompass ownership interests including assets, claims, holdings, and property rights, as well as financial interest meaning compensation for money use or forbearance. The manual references various legal dictionaries and court cases establishing that interest accrues daily regardless of payment intervals and represents time value of funds. Associated concepts include beneficial interest, controlling interest, joint interest, and remainder interest, with interest being apportionable between successive entitled parties.
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