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education loan u/s 80e


harish .k (STUDING)     11 July 2010

harish .k
STUDING 
 28 likes  306 points

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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

avater

vishnupriya (CA Final)     12 July 2010

vishnupriya
CA Final 
 150 likes  1418 points

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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

avater

harish .k (STUDING)     14 July 2010

harish .k
STUDING 
 28 likes  306 points

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thanks vishnu priya , for replying & providing the link............:)


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