INTEREST RECOVERABLE EXCEEDING THE LOAN AMOUNT

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....NTEREST RECOVERABLE EXCEEDING THE LOAN AMOUNT<br> Query (Issue) Started By: - S.C. WADHWA Dated:- 11-4-2018 Last Reply Date:- 12-4-2018 Income Tax<br>Got 1 Reply<br>Income Tax<br>A Pvt Ltd. gave loan ....

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....to another Company around eight years back. The rate of interest claimed is around 13% Such another company deducted TDS every year on interest payable In books of Pvt. Ltd. Company, the amount of i....

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....nterest recoverable has exceeded the amount of original loan as the another company has not made any payment since the date of receiving loan neither towards principal nor towards interest. Please ad....

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....vise whether it would cause any problem for Pvt. Ltd. Company giving the loan Reply By Susheel Gupta: The Reply: Dear Mr. Wadhwa Problem can be for the person taking the loan. Since the loan is out....

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....standing for eight years and even interest remains outstanding, the AO tends to add these transactions as time barring after three years/bogus entries. Should not be a problem for company giving the l....

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....oan. CA Susheel Gupta 9811004443<br> Discussion Forum - Knowledge Sharing ....