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Huf can give loan to its member
my son is taking admission in bits pillani, he needs 4lacs pa for his education. can huf can give education loan to its members
Replies (4)
HUF can give loan to its member, but any deduction of education loan is not derived u/s.80E
This tax deduction is allowed only if the education loan has been availed from any bank or notified financial institution or any approved charitable institution. So no deduction under Section 80E would be available if the education loan is taken from employer, family or friends.
Yes allowed
Thanks Sir.
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