Get Tax Benefits While Spending on Your Kids

Spending on your children lead to outflow from your pocket but can also give you tax benefits. Following are the few ways through which you can claim tax benefits for money spent on your kids:

1. Interest on Education Loan: The cost of education on children is very high and should be well planned. Most of you must have taken loan for their education. This results in burden of repayment but you can get partial gain as interest portion on education loan is fully tax deductible under section 80E of the Income Tax Act. The loan must be for full time […] Read more