Friends, As a director of a pvt limited company I would like to take up a certification course provided by a US organisation. The entire course is for about 6 months and would cost around $1000 USD (45,000 INR). Can I take this amount as interest free loan from my company and repay it in 12 installments of 3750. Will this amount (INR 45000) be exempt from income tax?
Menu
Company Loan for Education
Replies (1)
Though you would be getting interest free loan from the company, interest at applicable rate (SBI rate as on 1st April of that fin.year) will be considered as perk in your hands.
Recent Topic
- Issue with ITR2 online utility for HUF
- TDS deducted by EPFO under wrong section
- Schedule SI in ITR-2
- What is the easy way to do CA- through foundation
- Schedule FA query for this AY 2026-27
- Business income source for husband and wife
- Set off of LTCL against STCG under section 536(2n)
- Audit Workflow tool
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
Related Topics
CAclubindia
