Income Tax Act 2023
Section 2 Clause 88 - Interest
(as updated till Finance Act 2024)
“interest” shall include—
(a) any kind of interest or financial obligation payable against any kind of financial support, such as- loan, borrowing, trade credit, advance, security or guarantee; or
(b) any service fee or any such charge or payment which shall be treated as interest on monetary equivalent, but it shall not include expenses involved in raising money or capital;
Disclaimer: This is the authentic English text of the Income Tax Act 2023, as published under SRO No. 404-Law/2025 dated 08 October 2025. In the event of any inconsistency or conflict between the content on this website and the official Government publications or gazette notifications relating to laws, rules, regulations or SROs, the official Government publications and notifications shall prevail.