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....
1 Replies
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.
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