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Deduction u/s 80e of i.t.act

This query is : Resolved 
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(Querist)
15 September 2011 An Individual Assesse has 2 Children i.e. one being a Son & another one a Daughter.

He has taken Educational Loans from nationalised Bank for both Children towards higher studies i.e.For MBA Courses.Also He is paying regularly Instalments inclusive of Interest towards repayment of said Loans.

Now query is whether he can as a father claim the Interest portion towards repayment of said edculation Loans for both children from his taxable Income during the Year 2010-11 relevant to Astt.year 2011-12 as deduction u/s 80E of the I.T.Act or not. Moreover any Maximum Limit for Interest Payments for each children if any.

Please reply.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
16 September 2011 The father,referred in the query,can avail deduction under section 80E for the interest of both the loans, subject to the satisfaction of other conditions referred in the said section. Also there is no cap for the interest paid.
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