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loan to employees

Ashish Singhal (audit executive) (29 Points)

25 February 2018

Whether loan given to employees becomes irrecoverable be allowed under income tax act

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12 Replies

harshit kumar (114 Points)
Replied 25 February 2018

it is taxable u/h salary even if loan is given at less rate of interest then too it is taxable u/h salary

Ashish Singhal (audit executive) (29 Points)
Replied 25 February 2018

What about from the company's point of view

Ashish Singhal (audit executive) (29 Points)
Replied 25 February 2018

What about from the company's point of view

Ashish Singhal (audit executive) (29 Points)
Replied 25 February 2018

What about from the company's point of view

Ashish Singhal (audit executive) (29 Points)
Replied 25 February 2018

What about from the company's point of view

sankalp sharma (student) (118 Points)
Replied 25 February 2018

I think it would be deemed Income u/s 41 since it is non recoverable credit

sankalp sharma (student) (118 Points)
Replied 25 February 2018

I think it would be deemed Income u/s 41 since it is non recoverable credit

sankalp sharma (student) (118 Points)
Replied 25 February 2018

I think it would be deemed Income u/s 41 since it is non recoverable credit

sankalp sharma (student) (118 Points)
Replied 25 February 2018

I think it would be deemed Income u/s 41 since it is non recoverable credit

sankalp sharma (student) (118 Points)
Replied 25 February 2018

I think it would be deemed Income u/s 41 since it is non recoverable credit

sankalp sharma (student) (118 Points)
Replied 25 February 2018

I think it would be deemed Income u/s 41 since it is non recoverable credit

harshit kumar (114 Points)
Replied 26 February 2018

for company irrecoverable amount would be deducted from P&L A/c as a normal expense
also it isn't recoverable now... which now ensures that it was a part of salary which was given indirectly for tax saving purpose

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