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Education Loan

RAVINDRA GANGADHAR DEVALE (TAX PRACTITIONER) (293 Points)

12 November 2020

My client took education loan 18 lakh for his son so my question is where to show in balance sheet this Transaction.

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3 Replies

ayusmita (Tax consultant) (5890 Points)
Replied 13 November 2020

Not get you properly
for audit you can show

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Shivam RC (Student) (23683 Points)
Replied 13 November 2020

Education Loan is usually not shown in the Balance Sheet of the Business. It's your client's personal matter. It's not a Business loan.

What is your Client's Constitution of Business ???

JATINDER KUMAR (Accountant) (3662 Points)
Replied 13 November 2020

Education Loan never shown in Balance Sheet.

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