A Assessee has taken a loan for doing fulltime MBA for his son.....loan is in joint name of father and his son.so can
he claim interest deduction in P.y.2009-2010....
Parthiv Shah (JOb) (39 Points)
21 April 2010A Assessee has taken a loan for doing fulltime MBA for his son.....loan is in joint name of father and his son.so can
he claim interest deduction in P.y.2009-2010....
Dhruv
(Chartered Accountant)
(308 Points)
Replied 21 April 2010
Yes, the father can claim deduction on the amount paid as interest and principal during the year under section 80E. Please note that such payment should have been made from 'income chargeable to tax', otherwise the deduction is not valid.
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
