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Personal loan interest for education

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(Querist)
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
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
24 March 2022 No such deduction can be claimed on personal loan.
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CA Puja Sharma

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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
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