U/s 80-E

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ravikanth (Querist)
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14 February 2011 Education loan has been takan from a bank on Son's Name during the financial year 09-10, but the repayment has been made from his father's Account, Can father claim deduction u/s 80-E for the Asst Year 10-11

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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14 February 2011 No Father can not claim the deduction u/s 80E as the loan was not taken in the name of the father.

Key Factors to Keep in Mind

a) Loan should be in the name of individual claiming deduction. No deduction can be claimed for loans in the name of parents, spouse or sibling; even if the loan was taken for your studies.

b) The course need not be pursued in India. Loans for overseas courses are also permissible for a deduction.

c) Deduction would be applicable only when the individual starts repaying the loan.

For details also see below link---

http://taxguru.in/income-tax/deduction-under-section-80e-for-interest-on-education-loan-taken-for-self-and-relatives.html

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