18th May 2015, 09:23 PM
Posts: n/a

Can I get Tax Rebate against Education Loan if paying interest of Rs. 12947 per month?

hello sir,
I'm paying Rs.12947 per month towards interest for the Education Loan sanctioned on the name of my husband by State Bank of India for studying 1 year Executive MBA. Am I eligible to claim Income Tax Rebate on the same as my husband is not earning during this period?

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23rd May 2015, 01:54 PM
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Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: Can I get Tax Rebate against Education Loan if paying interest of Rs. 12947 per month?

No, you cannot get tax rebate for paying the interest of your husband's education loan unless you are co-borrower of the loan along with your husband. If you are co-borrower you can get income tax rebate. Apart from this you can get 1% rebate in the interest rate since the interest is being paid every month. You need to claim this every quarter and the outstanding amount will be credited to your husband's loan account.

Do you have any question? or have anything to say?

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