Interest on educational loan

This query is : Resolved

KALYANA SUNDARAM.T.V. (Querist)
Follow

03 August 2011 My Managing Director son is going to USA to do his higher studies (M.TECH). In this regard kindly answer my following queries.

1. The expenses incurred on higher studies can be claimed in my company hands.

If so under what section and any case law is available in support of the same.

However please note that he is not the employee of this company.

If the same can be claimed in the company's hands what is the procedure to be followed.

Regards

Kalyan

Amol Gopal Kabra (CA,CS,DISA)

Amol Gopal Kabra (CA,CS,DISA) (Expert)
Follow

03 August 2011 These expenses can't be claimed under the company's books unless he himself is the employee or director and the company sponsors the same for some benefit or future benefit to the company. In current case, it wont be allowable.