Education loan repayment and medical expenses

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Shamsunder Korhalkar (Querist)
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29 January 2011 Can any body tell me how to account for the amounts given as under for calculating incometax for individual

Education loan repayment 35,000 int.+ 60000 principal
Medical expenses incurred for parents 18000/-
Whether these amounts are included in total savings of Rs. 1.00 lac or interest amount is to deducted from gross income ?
How to account for these amounts ?
As a employer whether I should deduct these amoaunts from gross income or not ? Excluding total savings of Rs. 1.00 lac Please clarify
Korhalkar

CA Vinay Gandhi

CA Vinay Gandhi (Expert)
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29 January 2011 Interest paid on Educational loan taken for studies of assessee himself or his dependents is allowed as deduction u/s 80E.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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29 January 2011 Interest portion for education loan - deuction u/s.80E

Medical expenses for parents - can be claimed medical exemption Rs.15000 maixmum

both these are independent not inclued with Sec.80C

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