Please Help: Treatment of education loan?
Posted Date : 30-Jun-2012 , 06:32:00 am | Posted By Rambabu Senkarasetti
What is the treatment of education loan taken in the name of child? Can the father claim interest as deduction in his income?
Category : Income Tax | Answers : 5 | Comments : 0 | Hits : 180
Answers
Answer By: Rishabh Upadhyay
Yes, interest of education loan taken in the name of child is allowed as deduction from the income of parents
Answer By: Vikash Kumar Jha
he can claim interest as deduction Under section 80E from his gross total income
Answer By: Siddharth Bumb
he can claim interest on loan under section 80E
Answer By: Rambabu Senkarasetti
Thankyou sir.
Answer By: Krishna Chandra Santi
Child is coming under the meaning of relative. So deduction is allowed u/s 80E. Please note quantum of deduction is the amount paid during the previous year towards interest.
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