Interest on educational loan
This query is : Resolved
KALYANA SUNDARAM.T.V.
(Querist)
03 August 2011
My Managing Director son is going to USA to do his higher studies (M.TECH). In this regard kindly answer my following queries.
1. The expenses incurred on higher studies can be claimed in my company hands.
If so under what section and any case law is available in support of the same.
However please note that he is not the employee of this company.
If the same can be claimed in the company's hands what is the procedure to be followed.
Regards
Kalyan
1. The expenses incurred on higher studies can be claimed in my company hands.
If so under what section and any case law is available in support of the same.
However please note that he is not the employee of this company.
If the same can be claimed in the company's hands what is the procedure to be followed.
Regards
Kalyan
03 August 2011
These expenses can't be claimed under the company's books unless he himself is the employee or director and the company sponsors the same for some benefit or future benefit to the company. In current case, it wont be allowable.
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