what are the tax implications for both employer and employee if any employer bear the expenses of its employee's higher education and made a contract of work with the employee for some specified period?
2 Replies
ROSHAN PAUL JOSEPH
(CA Final student)
(311 Points)
Replied 18 June 2014
Amount spent for providing free education facilities to, and training of the employee, is not a taxable perquisite in the hands of the employee.
Also such expense will be a business expense for the employer.
mehulsaraf
(student)
(49 Points)
Replied 18 June 2014
can you please refer any section regarding this?
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