Centre agrees relief to distressed Borrowers in the form of Waiver of Compound Interest: Govt. files affidavit before SC

The government has told the Supreme Court that it has decided to waive “interest on interest” on loans of up to Rs. 2 crore during the six-month moratorium period. The petitioner, Gajendra Sharma sought a direction to declare the portion of the RBI‘s March 27 notification as ultra vires to the extent it charges interest […]

from Taxscan | Simplifying Tax Laws https://ift.tt/2GrFzLw