what are the tax implications for both employer and employee if any employer bear the expenses of its employee's higher education and made a contract of work with the employee for some specified period?
mehulsaraf (student) (49 Points)
18 June 2014what are the tax implications for both employer and employee if any employer bear the expenses of its employee's higher education and made a contract of work with the employee for some specified period?
ROSHAN PAUL JOSEPH
(CA Final student)
(311 Points)
Replied 18 June 2014
Amount spent for providing free education facilities to, and training of the employee, is not a taxable perquisite in the hands of the employee.
Also such expense will be a business expense for the employer.
mehulsaraf
(student)
(49 Points)
Replied 18 June 2014
can you please refer any section regarding this?
CAclubindia
