Education Loan to Employee
This query is : Resolved
23 July 2009
Hi
Ours is a Pvt Ltd Co., Can we claim Education Loan given to employee as Business Exp or can we shown as Donation to Employee for education purpose. Amount is Rs.100,000
pls with any case laws
Ours is a Pvt Ltd Co., Can we claim Education Loan given to employee as Business Exp or can we shown as Donation to Employee for education purpose. Amount is Rs.100,000
pls with any case laws
23 July 2009
as per my opinion it will be part of salary to employee. You can not donate anything to employee, but you can gift him anything. Or else you can pay on behalf of employee to anybody any amount. In all such cases this will be treated as perquisites in the hands of employees. Necessary TDS needs to be done.
23 July 2009
Any amounts which take the character of loans cannot be allowed as deduction.
As correctly said by Mr. Chetan, such interest free loans etc will be treated as perqusite in the hands of Employee and TDS should be deducted by the employers accordingly.
Venkat.
As correctly said by Mr. Chetan, such interest free loans etc will be treated as perqusite in the hands of Employee and TDS should be deducted by the employers accordingly.
Venkat.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Regarding TDS Applicability For Director Remuneration
- Annual return in Gst
- Value of property in capital gain
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
