Disallowance of interest paid on loans taken from family members ...

Income Tax

November 8, 2013

Disallowance of interest paid on loans taken from family members u/s.40A(2) - Interest paid at the rate of 18% per annum on unsecured loans during the relevant period cannot be said to be excessive or unreasonable - AT

View Source

← Previous Next →

Disallowance of interest paid on loans taken from family members ...

Income Tax

November 8, 2013

You may also like:

Loan taken at higher interest rate than bank rate - The payment of interest to the family members and sister concern at 24% was diversion of profits - HC

Disallowance u/s.40A(2)(b) - excess benefit, beyond reasonableness, to the member having substantial interest - provisions of section 40(A)2(b) are not applicable to...

Disallowance of interest - assessee had taken unsecured loans from the family members of the partners in the earlier years and paying interest @ 15% on the same - Fresh...

Penalty u/s 271D - default u/s 269SS - assessee has taken loan from his father and paternal aunt, who are family members and such transactions would not attract penalty u/s 271D

Disallowance of interest - assessee has given interest free advances to two family members with whom the assessee did not have any business connection - Additions confirmed - AT

Addition relating to alleged commission / interest - even if the loan provided by the family members of the assessee to Bajaj Group is not actual loan and is only...

CENVAT credit - premium paid for group medi-claim policies for employees' family members - the employee is earning not for himself but also for the family members -...

Addition u/s 40A(2) - assessee has paid interest to certain related parties and treated interest rate @ 15% reasonable and disallowed excess rate paid to related parties...

Disallowance u/s 40A(2) - taking loans from sister concerns on interest @6% to 7% and giving loans on interest further @4% - ITAT rightly directed the AO disallow...

Disallowance u/s. 40A(2)(b) - assessee company had paid interest on Unsecured loans and advances taken from Directors and relatives - Considering the fact, the above two...

Quick Updates: