Can we claim for education loan interest deduction while filing our taxes if the loan was taken from a foreign (ex. Indian) bank?

Posting as :
works at
You are currently posting as works at

No

Yes

EY1- Could you please tell in details?

I’m using same CPA from 2011 and I know I have claimed the interest deduction back in days..

All you have to do is inform your CPA and back it up by bank statement

Related Posts

Hi new to dfw area looking to buy a house. How’s the commute downtown from Frisco/McKinney area?

like

Pro tip: live close to poorer people to feel rich. The feelings of wealth are extremely subjective and is mainly based on comparison

likefunny

When the senior manager expects you to create estimated tax payments out of thin air because the client refuses to pay safe harbor.

like

What are your favorite personal finance books? I just read Rich Habits and really liked it. I am also reading the Psychology of Money. Looking to read some more!

like

Building im applying to has a $1,000 move in deposit. Are these usually refunded? The agent is checking with management but they are being super slow to answer. I want to move quick on this so I don’t lose the apartment

like

Any good ideas to keep your day job and start a business that allows for enough freedom to take taxable income from 350k to 0?

like

Home appraisal came in 30k too low. Seller is an investment group. House was on the market 40 days before offer. What's the chance they sell at appraised value?

like

What's the best airline stock to get into before the possible travel rebound next year? Do you also get in now or Q1/Q2?

like

Looking for suggestions on stocks to invest for beginners? Any suggestions on YouTube channels or articles/people to follow to read and stay updated on these things?

like

Home reno financing question. Have a big project coming up in the $120-150k range. Funding sources are:
- 90k from a heloc around prime
- 10k from a credit card that offers promo checks at 2-3% for 12-18 months
- 375k in a brokerage
- 5-6k per month cash that I can put towards the project, loans, or brokerage

I don't want to stop funding the brokerage because my FIRE plan is less numbers based than "hoard like dragon until it's enough" but maybe I should... How would you optimize?

like

I am 29F and earning 13LPA. I have been working for 4 years of which 3.5 years I had very low pay and close to 0 savings. I have been able to save 6L now.

My investments below:
* Elss funds - 2 (total 1.5L annually)
* Large cap mutual funds - 6 (total 40K sip per month) current portfolio of 4L
* FDs - 2 of 25K each
*Medical insurance - company provided

Can someone advice if this is a good investment plan for future? What can I do better? Do I need another Insurance? Where else to invest?

likehelpful

Diversification is the key. My portfolio includes a bit of most of these.

1. Debt/Liquid mutual funds (direct)
2. Gold
3. REIT (fractional ownership and distribution)
4. Equity mutual funds (ELSS, direct)
5. Direct equity (India)
6. US stocks and ETFs (tech & genomics)
7. Crypto currency (interest deposits)

helpful

Started my Roth IRA in 2019 and bought some funds that aren’t doing so well. I want to trade them for an index fund that the majority of my Roth IRA is in. Will I be penalized for “selling” before a certain amount of time? I don’t plan on taking the money out until retirement, just want to reallocate.

like

Do we still receive points for the stay if I book through AmexTravel?

like

Can someone help me with this? I had a low utilization since pandemic, I.e., ~sub 5%, but never missed any payments. Would credit score be impacted if only one line of credit with a low utilization?

Too few accounts currently paid as agreed
FICO®

Scores consider the number of accounts that are paid as agreed. Your score was impacted because the number of these accounts is too low, or because you've missed payments recently on some of your accounts.

like

What is your favorite part about being a realtor?

like

Pre-tax 401(k) or after-tax...thoughts?

like

Is the GSU price while vesting based on the market rate at the time of vesting or is it fixed based on the stock price during hire date/month?

like

First time building Roth IRA account. Stocks you think I should add?

like

Which bank account is better for salary account?

HDFC
Axis

like

More Posts

I got offer as Associate (Technology) from pwc. Can I extend my joining date for 3-4 weeks?

like

Ever see your rejected ideas win Grand Prix by other creatives? Seen it more than twice?

like

Has anyone been following the progress of “data portability” discussions / legislation? It has been a topic of discussion among retail clients who need to comply with privacy laws like GDPR and CCPA.

A $1T valuation is fine, but Tim Cook should be fired for the value loss that came from actually producing products, being famously boring and not losing his mind on social media.

like

What is bench policy of mphasis?

like

Hello Fishes, Infosys I need urgent help. I got selected as Lead consultant in Infosys with package 29 LPA with 20% variable. YOE is 15 years. Is is as per market standard? Or should I negotiate more ? TIA

like

I have an offer from PWC India and a top Indian insurance company. How do I choose which is better?@

like

Hi fishes, i came accross a msg that EY GDS is currently a burning train And is like going to bankruptcy.
How much true is this news ?

funnylike

Did PwC increase their payscale in UAE?

like

Does anyone know of good headhunters/recruiting companies to reach out to for open consulting roles? Recent LSE MSc graduate. 8 years of experience (5 in consulting). Looking for org transformation roles (focus on learning and development and culture). Would also appreciate any referrals!

like

Any vaccancies in supply chain management / procurement ?

Experience 4.5 years
E2E vendor Management

like

I have total 4.5 years of experience in pentesting
Certs: CEH, OSCP and CRTP

What should be my expected CTC? My current is 12.5L

like

Colleague in the office introduces himself. I introduce myself. He responds "Oh, I've heard your name a lot around the office. You are the one that does all the work on the team" ⛓😓⛓

like

Has anyone heard anything about the culture at SK Capital? Can't find much info online

like

Been welding for my company for 13+ yrs and I think it’s time for a change. The culture has completely changed and became toxic. My dream is to go independent do mobile/rig welding and repair then potentially have my own shop/store front. I have all the equipment and truck setup to start but don’t know where or how. I am certified to pipeline (API 1104) code in dual processes (GMAW, SMAW) as well as an AWS CWI and a CPWI. Any advice/input is greatly appreciated!!

like

I work at a medical device manufacturing plant as a training coordinator, I have a military background and a degree and am trying to advance but am feeling stuck. I am a literal jack of all trades, and am trying to get out of the hourly life, I’m working an average of 100 hour weeks and have been for at least the last 6 months.

like

How much time it take for offer letter after digiverification for Tech Mahindra And does the offer is revoked if anyone is not able to update resignation letter within 7days post offer roll out?

Hi People! I need a referral in Eli Lilly.

Currently in ZS as DAA! Almost 2 YOE but total work ex 2.5 yr.

The current stock trading bill being debated in Congress is just another example of how Democrats value theater over actually doing anything. Unless spouses, sig others and dependents are included, it means nothing. Let them operate under the same conditions we do in audit firms.

like

I was recently offered a job as a portfolio implementation analyst at a well known hedge fund. What would my career path look like?

like

Additional Posts in Desi Consultants

I have an annual membership to tryexponent for FAANG and tech prep. I don’t need the membership anymore and have about 6-8 months. I can share my creds for $60. The content was extremely helpful, I made it to Amazon. Let me know if anyone’s interested

How is the cloud oracle practice in Grand Thornton with respect to project opportunities, growth and leadership?

like

Hi guys, one of my friends bought a house recently in NY and I am looking to send him a gift for his new home. What could be some of the gift options? Can anyone share some ideas?

like

Going to India from DCA (flights were cheaper) but I live in Houston. Flight from DCA is at 10 pm. Should I book my flight from Houston to DC the same day or one day earlier? Given the flight cancela.

like

How is using char broil grill?

like

Asking for a friend - He got Dropbox appointment for November through an agent. The appointment mentions the appointment was made by the agent. Would this be of an issue for his appointment or when coming back?

like

Hello desi fam...Anyone know wherr/how to get an iptv box in the Chicago area?.... thanks

like

Does anyone here have a Tesla? Should I do it???...

like

I am scheduled to fly from NYC to Mumbai via Paris next Wednesday (Jan 5) for a ~10 day trip. Have any of you, your family, friends, etc. flown a similar route (I.e. from US to India via Europe) in the past week? If so, what is the arrival process (Covid test, quarantine requirements, etc.)? I’ve had all recommended vaccine shots and I’m only in Paris for a 2 hour layover (not leaving the airport). Any information on this would be greatly appreciated!

like

Desi 🐟 fam - What apps are you using to make payments in India using US credit card?!
I use Wise for money transfers and other payments using debit card but i want to pay with my credit card and wondering if there's an option for that

like

Do any female desis who are married take care of their own parents?

like

Can someone create a bowl for afghan politics please?

like

How much does it usually cost for makeup and hair for a Indian wedding? (In the USA)

like

Anyone waiting for the 2nd season of indian matchmaking??

like

Anyone here who moved from India to work in consulting in the US - I'd love to hear what you wish you know when you started - I start this summer and would love to understand expectations.

like

I am going to India for a month. May have to change my return date. Any suggestion on what insurance/other option to reduce the ticket update cost impact.

like

Anyone carried 65inch TV to india from US? Anything in particular I should be careful about at check in and customs ?

funny

Trying to decide between Amazon Firestock and Google Chromecast for parents in India. What would be a better pick that’ll allow them to cast movies/shows from all the Indian streaming platforms available now?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal