Deduction of Income tax on Interest paid on Education Loan
This query is : Resolved
Baljinder Singh
(Querist)
18 February 2008
Sir,
My assessee paid Interest amt. only on Educational loan for his son, which is doing MBA. The Principal amt will paid by his son. but at present assessee paid Interest (amt. only) of Rs.15745.
Can assessee claim deduction of the abovesaid amount under which section.
further, If assesse paid Installment of Rs.7242/- p.m. from his income (both principal & Interest). Can he claim deduction from his Income ?
Pls help me.
Reagrds,
Baljinder Singh
My assessee paid Interest amt. only on Educational loan for his son, which is doing MBA. The Principal amt will paid by his son. but at present assessee paid Interest (amt. only) of Rs.15745.
Can assessee claim deduction of the abovesaid amount under which section.
further, If assesse paid Installment of Rs.7242/- p.m. from his income (both principal & Interest). Can he claim deduction from his Income ?
Pls help me.
Reagrds,
Baljinder Singh
18 February 2008
FROM THE ASSESSMENT YEAR 2008-2009 UNDER SEC 80 E, THE LOAN REPAYMENTS AND INTEREST PAYMENTS FOR THE LOAN BOTH ARE ALLOWED AS DEDUCTION IF PAID FOR THE EDUCATION OF THE INDIVIDUAL OR HIS SPOUSE OR CHILD.
R.V.RAO
R.V.RAO
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst credit note by supplier
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Missed uploading GST Invoice
- Query on effect of registration of property
- Movement of goods by packers and movers - type of sale - Reg.
- Wrong CMPo8 file
- GST on reimbursement of expenses
- Gratuity paid to legal heir above 20 lakh is taxable or not
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
