Intt. free loan
This query is : Resolved
01 November 2010
My co has granted 2 employee loan amounting 4.5 lakh each at nil rate of intt. repayable in 5 yrs . now i want to know that whether co can claim notional loss of intt.as expenditure on such loan. or to treat the notional intt on loan as part of salary given to those employee. pls reply soon that whether such notional loss of intt is an expenditure or not?
01 November 2010
not cliam notional loss
01 November 2010
hi
i am agree with ca navin jain and i say that we can not claim notionalloss nor we can make salary of employee who give intt. free loan
thanking you
i am agree with ca navin jain and i say that we can not claim notionalloss nor we can make salary of employee who give intt. free loan
thanking you
01 November 2010
Yes agree with Mr. Naveen Notional loss can not be claimed
01 November 2010
thanks for replying . but one moot question remained in my mind company has given loan to employee naturally for making them loyal to co can we claim the same u/s 37(1) of the income tax act
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
- Is any professional CA is here please reply
- Reopen of assessment proceeding
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Putting a heading on received mail
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Gift Received from nonblood relative
- EPF FULL & FINAL RULES IN 2026
- Rental income gst and it purpose
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Reprocessing of rectification order AY 2025-26
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
