we are having three sister concern, one company gave a loan to sis. com. in usd, can such loan can be repayable in INR.
From India, Mumbai
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From India, Mumbai
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we are having three sister concern, one company gave a loan to sis. com. in usd, can such loan can be repayable in INR.
From India, Mumbai
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From India, Mumbai
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Dear Mayuri,
Kindly post such queries on citefinance where you will find information regarding your query.
I believe you can repay the loan in INR, provided that you make the payment in INR based on the exchange rate of the Dollar on the day when the loan was given to the sister concern in Dollars, and not based on the current Dollar rate.
If the current Dollar rate is higher than the rate on the day the loan was provided, the excess amount will be considered as profit and may be subject to taxation.
This is my perspective and may not be definitive. I recommend seeking more insights from experts in the field of finance and accounts.
Regards,
Octavious
From India, Mumbai
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580Kindly post such queries on citefinance where you will find information regarding your query.
I believe you can repay the loan in INR, provided that you make the payment in INR based on the exchange rate of the Dollar on the day when the loan was given to the sister concern in Dollars, and not based on the current Dollar rate.
If the current Dollar rate is higher than the rate on the day the loan was provided, the excess amount will be considered as profit and may be subject to taxation.
This is my perspective and may not be definitive. I recommend seeking more insights from experts in the field of finance and accounts.
Regards,
Octavious
From India, Mumbai
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