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Deduction U/s 80 E

JITENDRA KUMAR DHINGRA (Executive) (93 Points)

05 March 2011

Gud Evening Everyone,

An assessee has taken Loan for HIgher studies of his Brother.Their Parents are no more alive. He is only the guardian of his Brother. Is the Interest payment on such loan shall be allowable U/s 80E.

Please give ur advise.

Regards

Jitendra

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4 Replies

Hardik Patel (B.Com, CA Final) (158 Points)
Replied 05 March 2011

Ya Why Not????????????

He can take the benefir U/s 80E for interest and not for repayment of Principal.

JITENDRA KUMAR DHINGRA (Executive) (93 Points)
Replied 08 March 2011

But My friend IT Deptt. has used the Legal Guardian in sec. 80E. Shall he deemed as Legal guardian or not. please explain me with some provision.

Pankaj Arora (Learner) (3134 Points)
Replied 08 March 2011

[(e) “relative”, in relation to an individual, means the spouse and children of that individual or the student for whom the individual is the legal guardian.]