08-23-2007, 06:44 PM
Assalam-o-Alaykum dear members
There are two companies A & B. Company A has paid Loan to Company B. Now B wants to payback loan to A. However, B doesnât know that whether there will be any deduction of income tax while paying back the loan or not. If income tax is applicable then what will be rate of deduction?
Can anybody explain whether deduction of income tax is applicable on the above case or not. If yes then what will be rate of deduction? Please also mention Income Tax section for reference.
Thanking you.
There are two companies A & B. Company A has paid Loan to Company B. Now B wants to payback loan to A. However, B doesnât know that whether there will be any deduction of income tax while paying back the loan or not. If income tax is applicable then what will be rate of deduction?
Can anybody explain whether deduction of income tax is applicable on the above case or not. If yes then what will be rate of deduction? Please also mention Income Tax section for reference.
Thanking you.
