Education Loan

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TAX PRACTITIONER
293 Points Posted on 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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On 12 November 2020 at 17:33 Report
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This discussion clarifies that education loans, taken for personal reasons like a child's studies, are generally not shown on a business's balance sheet. They are considered personal liabilities rather than business debts. The type of business constitution is mentioned as a factor, but the consensus is that personal education loans fall outside of business accounting.

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Tax consultant
5895 Points Posted on 13 November 2020
Not get you properly
for audit you can show
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On 13 November 2020 at 01:36
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Student
23693 Points Posted on 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 ???
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On 13 November 2020 at 22:20
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Accountant
3662 Points Posted on 13 November 2020
Education Loan never shown in Balance Sheet.
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On 13 November 2020 at 22:56

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