Education loan repayment and medical expenses
This query is : Resolved
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
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
29 January 2011
Interest paid on Educational loan taken for studies of assessee himself or his dependents is allowed as deduction u/s 80E.
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
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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