education loan u/s 80e

Tax planning 757 views 2 replies

harish .k

STUDING

306 Points Joined January 2008

hi, to every one

my query is can an assessee can claim deduction on repayment of education loan i,e is principal repayment as deduction u/s 80e ( as per my knowledge u/s 80e interest part only can claim as deduction i, e is also up to 8 yr's ).

for e.g Mr A. (father) has as taken loan for Rs 200000/- for his son's education from a nationalised bank , after an yr his son got a job and suppose he is reppaying the installment of loan , can the son can claim deduction u/s 80c or not only father can claim , pls reply

Regards

Harish

Replies (2)

vishnupriya

CA Final

1418 Points Joined July 2009

Loan should be in the name of Individual: - Deductions on education loan can only be claimed if the loan has been taken in your own name. If your parents, spouse or sibling has taken the loan for your studies, then you are not entitled to get tax benefit.

Source: https://www.taxguru.in/income-tax/deduction-under-section-80e-for-interest-on-education-loan-taken-for-self-and-relatives.html#ixzz0tQZvoYKF