80c and 80e

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chandan (Querist)
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08 January 2012 Can we claim deduction u/s 80C of tution fee paid out of the education loan ??

Other Info:
1. Repayment of education have not started yet.
2. Amount of fees is directly paid by bank to the college.
3. Interest payment will be started after the completion of course.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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08 January 2012 Interest on educational loan is deductible on payment basis.
.
Parent can avail 80C benefit towards payment of tuition fee of his child.
.
Assessee himself takes loan and makes payment of tuition fees for self...deduction U/s 80C is not available.

CA Pradeep Kumar Rajput

CA Pradeep Kumar Rajput (Expert)
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08 January 2012 U/s 80C tution fee paid for childrens are deductible and not for the self education....
Read the wording mention in 80C

chandan

chandan (Querist)
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09 January 2012 Tution fee has not been paid from own capital, it has been paid from the loan amount....can assessee still claim 80C???

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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09 January 2012 If paid by the assessee for his children, then only allowable U/s 80C even if paid out of loan.

chandan

chandan (Querist)
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09 January 2012 Thanks Sir...can u plz further tell me that is there any exemption/deduction for repayment of education loan in any section of I.Tax act???

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