deduction under chapter VI A
This query is : Resolved
19 January 2011
There is a major son who has taken loan from a financial institution for higher studies. Now the interest payment is being made by the fathers tax file. Can he get deduction?
19 January 2011
If the son has taken the loan, only he can get the IT benefit & that too, only if he himself pays the interest amount out of his taxable income.
Message likes :
1 times
19 January 2011
Father would have got the IT benefit as he is paying the interest , but the condition is : Loan should have been taken in the name of father.
So.. conclusion.....
Neither the son nor the father can claim the IT benefit in the above situation.
So.. conclusion.....
Neither the son nor the father can claim the IT benefit in the above situation.
Message likes :
1 times
24 February 2011
***********************
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
- HSN Details in IFF/GSTR-1 & in GSTR 9
- Refund of AY 22-23
- Tax on capital gains revoked us 54f
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Inventory of finished goods
- TDR receipts for agreement holder
- Applicability of Ind As to associate of associate
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Disallowance of Section 43B(h) to sez units
- Confusion around Form 26QB fields
- GST REFUND ON EXPORT EXPENSES OF EXEMPTED GOODS
- GSTR9 and 9c
- Ineligible ITC taken
- Vivad se vishwas scheme 2024 new
- 115TD on cancellation of 12A 80G Registration
- MIS MATCH OF INVOICE NUMBER
- 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
Trending Online Classes
CAclubindia
