Interest on educational loan
This query is : Resolved
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.
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
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- Scrutiny and reopening of past returns
- PPF interest-As Exempt Income disclosure
- Tax on Deemed Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Type of Capital Gain
- Banking Related Issue
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
