Education loan interest repayment

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 August 2016 Loan was availed jointly by myself and my son. son is the first holder and myself second. I am planning to start the repayment from this year on wards. However in the meantime my son got a job with a taxable income. Please let me know whether I can claim the tax benefit if I pay the interest from my salary income.

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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08 August 2016 Under section 80E deduction in respect of interest paid on education loan is available to the person who has taken such loan. The loan may be taken for the purpose of education of himself or the relative which includes spouse and children. In your case since you are the joint holder of loan you can take the benefit of deduction.

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