non recovery of education loan given to employee
This query is : Resolved
10 September 2009
Hello dear all
one of our client (Pvt Ltd Rs 25lac) given a loan to employee for higher education now company going to written off the loan whether income tax allow this loan as expense. Please clarify AEAP We now finlising the accounts plzzzzzzzz.
one of our client (Pvt Ltd Rs 25lac) given a loan to employee for higher education now company going to written off the loan whether income tax allow this loan as expense. Please clarify AEAP We now finlising the accounts plzzzzzzzz.
10 September 2009
this needs to be add to salary as perquisit & tds needs to dedected as per income tax slabs.
if you deducted the tds then there will be no question of disallowances. in all other case ITO may make addition to income as failure to deduct the tds.
if you deducted the tds then there will be no question of disallowances. in all other case ITO may make addition to income as failure to deduct the tds.
11 September 2009
sir but salary not covered under section 40(a)(ia) for disallowence non making of TDS plz go trough it and clarify my doubt.
11 September 2009
Hi,
In my opinion you can write off it to profit & loss account and it is allowable expenditure under the income tax act. No need to deduct the TDS.
In my opinion you can write off it to profit & loss account and it is allowable expenditure under the income tax act. No need to deduct the TDS.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Disallowance of Section 43B(h) to sez units
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
