Who can Claim Deduction U/s 80 E
Student is paying EMI by transfering full EMI to parent's account but amount gets Debited from Parent's account to Bank.
Student and Parent both are on loan.
Can Child get Deduction in this scenario?
varad (m) (21 Points)
26 December 2018Who can Claim Deduction U/s 80 E
Student is paying EMI by transfering full EMI to parent's account but amount gets Debited from Parent's account to Bank.
Student and Parent both are on loan.
Can Child get Deduction in this scenario?
ANIMESH CHOWDHARY
(Practicing CA)
(305 Points)
Replied 26 December 2018
The loan should be taken for the higher education of self, spouse or children or for a student for whom the individual is a legal guardian. Parents can easily claim this deduction for the loan taken for the higher studies of their children.
In this case, Child can avail the deduction.
Saikrishna S
(119 Points)
Replied 26 February 2019
CAclubindia
