Education loan
RAVINDRA GANGADHAR DEVALE (TAX PRACTITIONER) (292 Points)
14 October 2020
My client took education loan 13 lakh where to show this transaction in balance sheet.
3 Replies
Abdul Ghaffar
(Bookkeeper)
(32 Points)
Replied 14 October 2020
According to my experience, It should be a personal loan. It's not a business loan. so he has to pay from his pocket
Amit Khare
(204 Points)
Replied 14 October 2020
In my opinion this is a personal loan. However he can deduct interest u/s 80e
ayusmita
(Tax consultant)
(5885 Points)
Replied 15 October 2020
Under the head of unsecured loan if he or she has not mortgage any thing s against such loan
and if he or she mortgage any things under such loan then secured loan in balance sheet
any he can show it's interest u/s 80 e as an deduction in balance sheet
this is I say for individual person balance sheet if he or she wants to keep a book of Account of their personal income coming and outgoing
and if he or she mortgage any things under such loan then secured loan in balance sheet
any he can show it's interest u/s 80 e as an deduction in balance sheet
this is I say for individual person balance sheet if he or she wants to keep a book of Account of their personal income coming and outgoing
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