Educational loan

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vignesh srinivasan (Querist)
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24 September 2011 Educational loan taken in the name of Son & father is eligible for deduction by father in his IT Returns?

as per the loan agreement Father is coapplicant!

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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24 September 2011 First confirm is it co-applicant or co-obiligent? If it is co-obiligent then the above question doesn't arise if it is co-applicant then also no problem you can claim for section 80E. Some situations like in case of minor or any other problems banks put the father/mother as co-applicant. Generally banks put as co-obiligent? However it is better to confirm from bank why put as co-applicant(if it is?). Anyway no problem for the section 80E deduction if it is used from son's education only?
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