non recovery of education loan given to employee
This query is : Resolved
10 September 2009
Hello dear all
one of our client (Pvt Ltd Rs 25lac) given a loan to employee for higher education now company going to written off the loan whether income tax allow this loan as expense. Please clarify AEAP We now finlising the accounts plzzzzzzzz.
one of our client (Pvt Ltd Rs 25lac) given a loan to employee for higher education now company going to written off the loan whether income tax allow this loan as expense. Please clarify AEAP We now finlising the accounts plzzzzzzzz.
10 September 2009
this needs to be add to salary as perquisit & tds needs to dedected as per income tax slabs.
if you deducted the tds then there will be no question of disallowances. in all other case ITO may make addition to income as failure to deduct the tds.
if you deducted the tds then there will be no question of disallowances. in all other case ITO may make addition to income as failure to deduct the tds.
11 September 2009
sir but salary not covered under section 40(a)(ia) for disallowence non making of TDS plz go trough it and clarify my doubt.
11 September 2009
Hi,
In my opinion you can write off it to profit & loss account and it is allowable expenditure under the income tax act. No need to deduct the TDS.
In my opinion you can write off it to profit & loss account and it is allowable expenditure under the income tax act. No need to deduct the TDS.
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
- Scrutiny and reopening of past returns
- Tax on Deemed Capital Gain
- Type of Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- GST ON TRAVELLING BILLS
- Rental income of jointly held property
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- 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
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
