Please let me know, whether a Resident but not ordinarily resident can claim deduction under sec 80E and 80D on interest on education loan taken in abroad and mediclaim policy taken in abroad respectively(EMI paid in US $)
I. B. Nadaf (CA Final ) (70 Points)
21 July 2009Please let me know, whether a Resident but not ordinarily resident can claim deduction under sec 80E and 80D on interest on education loan taken in abroad and mediclaim policy taken in abroad respectively(EMI paid in US $)
chintan mehta
(Chartered Accountant)
(445 Points)
Replied 21 July 2009
80E- the interest on loan - the loan must be taken from any institution approved u/s10(23C),
80D- a non resident can also claim deduction provided it has been taken in india.
therefore u cannot claim deduction taken from foreign institutions
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