Dear Finance Folks,
This is pertaining to IT return of current year. As such i have worked in India for 7 months and hence i m liable to pay Income Tax to the Govt. I m out of India since Nov 2007. I have taken high education loan for further study. I have a query regarding education loan. Do we have any law provision for claiming education expenses to IT Return filing. I do remember that father can claim children's educational expenses in IT return but here i have taken the loan and i wanna to claim it in my IT Return. Is it possible ? If yes, what would be the way out to show in IT Return.
Seeking your guidance on IT Return filing.
Thanking you in advance,
"Together, Transform Business Process by leveraging Information Technology to Grow and Excel in Business".
DEAR FND, AS PER THE INCOME TAX, YOU CAN CLAIM THE DEDUCTION REGARDING THE EDU LOAN SUBJECT TO THE MAXIMUM LIMIT. you can show as deduction as loan in ur IT return subject to max of Rs 20000\100000
, New Delhi
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