https://www.taxtmi.com/acts?id=10812 Permitted finance charges include interest on borrowed capital and debt, interest to trade creditors, participant interest under association agreements post-agreement date, fees for unused credit facilities, incidental financial charges, and prorated bond or debenture discount or premium. Excluded are interest for periods before business commencement or before an asset is first used and charges for issuing securities. Interest to permitted financial institutions is deductible in the year paid or when liability accrues, whichever is later, but interest converted into loans is not regarded as paid. "Capital borrowed" may include periodic shareholder or subscriber subscriptions to mutual benefit societies subject to conditions. en-us Thu, 20 Aug 2009 11:57:13 +0530 Thu, 20 Aug 2009 16:12:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=10812 Permitted finance charges include interest on borrowed capital and debt, interest to trade creditors, participant interest under association agreements post-agreement date, fees for unused credit facilities, incidental financial charges, and prorated bond or debenture discount or premium. Excluded are interest for periods before business commencement or before an asset is first used and charges for issuing securities. Interest to permitted financial institutions is deductible in the year paid or when liability accrues, whichever is later, but interest converted into loans is not regarded as paid. "Capital borrowed" may include periodic shareholder or subscriber subscriptions to mutual benefit societies subject to conditions. Act-Rules Bills Thu, 20 Aug 2009 11:57:13 +0530 https://www.taxtmi.com/acts?id=10812