My son took an education loan in his name for higher studies in India. He has opted for the new regime in IT and has just started earning. I am a retiree and my income is only from interest on FDs and Capital gains in sharemarket. Can I claim the interest on loan repayment as deduction under 80 E in old regime, since new regime does not allow this deduction ? The loan documents are all in my son's name.
If you are repaying the loan, you can claim the interest as deduction under section 80E in old scheme. If your son is repaying, it is not advisable that you claim the deduction.
V.K. Ranjan & Co(Chartered Accountants)
New Delhi
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