Deduction u/s 80 e, joint applicant for loan
This query is : Resolved
Shobhit Gupta
(Querist)
02 February 2012
An individual obtained an Education loan for his own studies. The Education Loan obtained was in JOINT NAME (him & his father). Now, Both (the individual & his father) are paying EMIs from their respective accounts. Can Both of them claim I/tax deduction u/s 80E for the interest part respectively paid by them or only the individual himself is eligible for the deduction ???
thanks
thanks
CA PARAS BAFNA
(Expert)
02 February 2012
Both can claim interest on payment basis.
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