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
- GSTR-1A How to update Invoice
- Excess salary payment.
- Stamp Paper for partnership firm change new income tax 2025
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Value of property in capital gain
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- 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
