Question ID :
40930
Interest paid on education loanof child
An education loan has been taken for study abroad in joint names of Father and son. Repayment is being done by father here in India to a bank. Can Father claim deduction under sec 80E for any amount of interest.
Posted by
Mahesh Kumar
on
Dec 27, 2020
Filed Under
DIRECT TAXES
Father can claim deduction u/s 80E for the interest provided the repayment is out of his income chargeable to tax.
Posted by
B.CHACKRAPANI WARRIER on
Dec 27, 2020
Answer ID :
80850
Yes. Father can claim deduction under section 80E.
Posted by
CA. chunauti dholakia on
Dec 29, 2020
Answer ID :
80872
Only Individual claim 80E Loan should be taken for higher studies in india or outside india Deduction is allowed int part of EMI without any maximum limit Need to obtain certificate from the bank This Deduction can be claimed FY you start repaying loan only interest not principal
Posted by
Hari Beldona on
Jan 10, 2021