Hi,

I am planning to take loan in India to run educational Institution ,I will be buying land and building to run educational Institution,Can I claim that loan in US for Tax benefits ,as I will be regularly remit money from USA to India to pay off the loan. Under what category the loan comes i.e, Personal /Commerical/House.

Thanks,
ANK

How do you intend to treat this activity-- self employed business or it will be handled by a corporation. So based on the activity, you may be able to report it on your tax return.

Mukta,

Thanks for reply!
1.Educational Institution will be run under a society (kind of corp),but Loan will not be taken on name of society,loan will be granted on my name (personal or housing)

We are planning to stay in same building (we will treat part of building as our house)

As we (dependents) living in same building can it classified as housing loan?

Thanks,
Ank

Evidently all your expenses are pre-business expenses. These are not deductible. These are your capital expense, which you can amortize after you start the business.

You should also look at the thread https://www.askmehelpdesk.com/taxes/home-mortgage-interest-deduction-foreign-property-us-tax-return-415054.html