Education loan repayment and medical expenses

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This query is : Resolved

Shamsunder Korhalkar (Querist)

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)

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)

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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