Section 80E of Income Tax - reg...
This query is : Resolved
Maruthi.K.T
(Querist)
11 February 2011
Dear Sir/Madam,
I have provide ther education loan to pursue Engineering to my son who has completed during 2005.He is in job with a good company.He is not willing to pay a single rupee towards the Education Loan.His logic is it is responsibility of providing good education to their children under this circumstances the Bank has issued legal notice to repay the entire loan along with principle and Interest.I would like to clear entire outstanding loan together with interest and avail the benifits U/S80E of IT.Please anybody clarify my query.
I have provide ther education loan to pursue Engineering to my son who has completed during 2005.He is in job with a good company.He is not willing to pay a single rupee towards the Education Loan.His logic is it is responsibility of providing good education to their children under this circumstances the Bank has issued legal notice to repay the entire loan along with principle and Interest.I would like to clear entire outstanding loan together with interest and avail the benifits U/S80E of IT.Please anybody clarify my query.
CA Anisha Ray
(Expert)
12 February 2011
You can get 100% deduction for the interest amount paid for the loan.
CA PARAS BAFNA
(Expert)
13 February 2011
Yes sir,
What you can claim only is "dedutions" in the name of so called "benefits" and discharge the responsibility.
Amount of total interest paid on educational loan u/s 80E is deductible from your gross total income.
What you can claim only is "dedutions" in the name of so called "benefits" and discharge the responsibility.
Amount of total interest paid on educational loan u/s 80E is deductible from your gross total income.
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