Income tax
This query is : Resolved
09 May 2014
The Query is regarding one of my friend whose father has recently passed away. Before that Father was repaying the education loan of her daughter and taking benefit of 80E. Now when Father is passed away, the son is repaying the Loan & Interest for his sister. Can he take the benefit of 80E. If not that how can he become his legal guardian (as mentioned in 80 E)
09 May 2014
well for income-tax purpose you might become the legal guardian, what you need to check is whether under the loan documentation, you are covered under legal heirs/successor or not. This is so because 80E requires that the deduction is taken by who has borrowed in respect to covered persons.
10 May 2014
you must first get name converted on son as if now he has taken loan and he is repaying then alowed.
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