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80 e educational loan

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(Querist)
10 May 2012 Dear all,

As per income tax act, deduction of interest of educational loan is avaialble to person who takes the loan. However what if the loan is taken for the education of son and loan is taken by father and son (as co-borrowers). Is the deduction is available to son and father both if the interest is paid by both of them i.e. 50% each.

Thanks
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
24 May 2012 In this case, the deduction will be available to both of them.
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