As per the companies Act, the interest on calls in advance is …………..

Question

Quizplus · Accepted Answer

According to the Companies Act, the interest on calls in advance can be paid at a rate not exceeding 12% per annum as may be agreed upon. However, in the absence of a specified rate in the question, none of the provided options directly align with the Act's stipulation. The closest standard rate often referenced in practice is 6%, but it's important to note that the actual rate should be determined based on the company's articles of association or a mutual agreement.

As Per the Companies Act, the Interest on Calls in Advance