Educational loan EMI claim
Nagalaxmi
(Querist) 27 October 2018
This query is : Resolved
Dear sir/madam,
I have applied for education loan of 5 lac for my daughter in 2013. I am the MOTHER and Every month an intrest of 999rs for the first installment gets deducted from my account . As of this year 2018 an EMI of 12000 started getting deducted.it is a joint account of my daughter and husband.I am registered as only the third party guarantee on the loan annexure. And since I am paying the EMI I want to claim the income tax benefit. Can I as a mother claim the income tax benefit?? I contacted the bank for an account statement but it only shows my husband and my daughter's name and since my daughter was a minor at the time of taking loan. It only shows that money gets deducted from my account to my husband account.( Can I use the EMI payment for income tax benefit?. If not y???)
P. Venu
(Expert) 28 October 2018
The facts are confused and/or incomplete. Why deduction is made from your account if you are only a surety? anyhow, the amount does not entail any income tax deduction.
