Penal Rate of Interest

Every company shall pay a penal rate of interest of eighteen per cent. per annum for the overdue period in case of deposits, whether secured or unsecured, matured and claimed but remaining unpaid.

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CA Bhuvnesh Goyal Partner
CA Bhuvnesh Goyal is a Chartered Accountant with expertise in taxation, finance, and business compliance. He shares practical insights to help readers navigate complex financial matters with ease.