Personal loan interest for education
This query is : Resolved
Quick Summary
23 March 2022
I intend to avail a personal loan and utilise the same for my daughter’s overseas education. Can I claim the interest paid on the loan as a deduction from my income under income tax
CA R SEETHARAMAN
(Expert)
24 March 2022
No such deduction can be claimed on personal loan.
CA Puja Sharma
(Expert)
24 March 2022
No such interest deduction is allowed against a personal loan.
If your daughter takes an education loan then that can help her in tax savings
If your daughter takes an education loan then that can help her in tax savings
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