DOUBTS IN IT
This query is : Resolved
25 May 2011
Hello Experts,
Please clarify my following doubts:
1.If Mr.A pays the school / college fees of his sister, can he claim under section 80C?
2. If Mr.A pays the education loan instalments of his dependent sister, can he claim int on higher education loan?
Please reply.
Thanks.
Sumitha
Please clarify my following doubts:
1.If Mr.A pays the school / college fees of his sister, can he claim under section 80C?
2. If Mr.A pays the education loan instalments of his dependent sister, can he claim int on higher education loan?
Please reply.
Thanks.
Sumitha
U S Sharma
(Expert)
25 May 2011
NO, tution fees is deduction under 80C for own children only
25 May 2011
what about education loan repayment for dependent sister. is it allowed under chapter VI A?
CA PARAS BAFNA
(Expert)
26 May 2011
W.e.f. 1-4-2008(AY 2008-09) Deduction in respect of Interest on Educational Loan taken for a relative is also deductible.
Vide clause (e) of Section 80E(3), relative also includes the student for whom the individual is the leagl guardian.
A brother can be legal guardian of his dependent sister and as such interest is deductible U/s 80E.
Vide clause (e) of Section 80E(3), relative also includes the student for whom the individual is the leagl guardian.
A brother can be legal guardian of his dependent sister and as such interest is deductible U/s 80E.
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26 May 2011
Thank you sir. Is it applicable also for tution fees then u/s 80C?
CA PARAS BAFNA
(Expert)
26 May 2011
No, Tuition Fee deduction can be claimed in respect of any two children of the assessee.
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27 May 2011
agree and confirm with what Mr Bafna said.
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