Ours is a Pvt Ltc Co.,
Can we claim Education Loan given to employees as Business Exp or
can we shown as Donation to Employees for education purpose
pls with any case laws
Pemmasani Purushotham (M.B.A, C.A.Final) (418 Points)
23 July 2009Ours is a Pvt Ltc Co.,
Can we claim Education Loan given to employees as Business Exp or
can we shown as Donation to Employees for education purpose
pls with any case laws
Anumanchipalli Sathikonda
(Tax Consultant)
(1559 Points)
Replied 24 July 2009
Mr. Purushotham Naidu
You are speaking of loans given to your employees for pursuing education. Loan means which is repayable. How can you claim the laon as an expenditure. Loan given to your employees as explained by you is a current asset.
Best Wishes
Sathikonda
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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