Interest on personal loan

This query is : Resolved

pavan kumar k (Querist)
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06 March 2012 Sir,
One State Govt.Employees Income from salary is Rs. 300000/- Less Deductions Rs.30000/-. He did't claimed below Expenses.

1.Interest on personal loan from SBI is Deductible from tax or not?

2. dependent son suffering from blood clot in brain and his medical expenditure is Rs. 10000/- this is Deductible or not?

3. His wife was taking medicines from psychiatrist. is this deductible?

Thanking you

Regards,
Pavan Kumar k.

CA. Ranjit Yadav, FCA

CA. Ranjit Yadav, FCA (Expert)
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07 March 2012 Sir,
following are the answer of ur query.
1. interest on person loan is not deductible from taxable income.

2.Expenditure incurred on medical treatment is deductible so you can take advantage of this expenses.

3. No only medi claim is allowable and not cost of medicines allowed.