Education Loan
This query is : Resolved
17 October 2008
I took an education loan for my higher studies on my name and my wife was gaurantor for that. I started the repayment of the loan but within 2-3 months, I moved abroad on work permit.
My wife is working in India and paying the EMI of my education loan. Can she claim the income tax exemption under section 80E for the interest payment??
Or is that not possible because the loan is on my name??
My wife is working in India and paying the EMI of my education loan. Can she claim the income tax exemption under section 80E for the interest payment??
Or is that not possible because the loan is on my name??
17 October 2008
She is not eligible u/s 80E.
23 October 2008
hey one thing we can say ya....since she is the Guarentor for the loan. we can claim interest saying that he has not paid loan(default) so i (wife)am paying the interest. but me too having a doubt whether principle payment can be allowable to the Guarenteed person who made payment in place of default person.
24 October 2008
Is there any income tax expert in this club who can comment on this? So that I can take that as final one.
15 November 2008
No, she is not eligible u/s 80E. It is clearly mentioned in section 80E that the interest on loan for his own higher education. so you are the only person who can claim this exeption.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- SEC 54 OF IT ACT
- Form 26QB for TDS on property
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Where to show the RCM on Rent paid to unregistered landlord
- Is Aadhar PAN linking required for opening bank account?
- RCM - commercial rent paid to URP under GST
- Partnership Business Can start India (two partners one is Indian and OCI both are wife and Husband)
- Payable outstanding for years disallowance
- DTCP approval
- Whether still royalty
- Strategic Performance Management and Business Valuation
- Appeals vs Writ court -certain doubt
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
