Interest Recoverable Exceeding The Loan Amount
A Pvt. Ltd. gave a loan 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. The company, the amount of interest recoverable has exceeded the amount of original loan as the other company has not made any payment since the date of receiving loan neither towards the principal nor towards interest.
Please advise whether it would cause any problem for Pvt. Ltd. Company giving the loan
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