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EDUCATION LOAN U/s 80e

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(Querist)
10 May 2010 Mr. A (Father) & Mr. B (Son), have jointly taken education loan of Rs. 10.00 lacs for the Higher education of Mr. B(Son).

Whether both of them can take benefit of Section 80E for computing their income & tax? If Yes, up to which amount both of them can take this benefit?
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chetan soni

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chetan soni (Expert)
10 May 2010 No, only one can take the benefit of the same.

There is no limit to this, but only interest payment is allowed as deduction.

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