Question ID :
39359
Interest paid on education loan of Son
A person is repaying loan and Interest on Education loan
obtained in his son's name. Whether he can claim deduction for the same
Posted by
Mahesh Kumar
on
Aug 20, 2019
Filed Under
DIRECT TAXES
Section 80E provides deduction to an individual-assessee in respect of
any interest on loan paid by him in the previous year out of his income chargeable to tax.
(ii) Conditions: The loan must have been taken for the purpose of pursuing his higher education
or for the purpose of higher education of his or her relative. The loan must have been taken
from any financial institution or approved charitable institution.
Relative :Spouse and children of the individual or the student for whom the individual is the legal guardian
Hence,he can eligible to claim u/s 80E
Posted by
CHANTI EMBADI on
Aug 20, 2019