Section 2 Clause 88 - Interest
“Interest” shall include—
(a) any form of financial assistance, such as – interest or financial liability of any kind paid against loans, borrowings, trade credit, advances, guarantees; or
(b) service fee or any such charge or payment which shall be treated as interest on monetary equivalent,
However, it shall not include expenses involved in raising money or capital;
Note: This is unofficial English translation. In the event of a conflict between the information on this website and the original Government publications or notifications of laws, rules, regulations, and SROs, the Government publications or notifications shall prevail. Moreover, as per Section 345(2) of the Income Tax Act 2023, if there is a conflict between the English and Bengali text, the Bengali text shall prevail.