education loan
Alakshendra Rai (Service) (40 Points)
07 March 2017
what is the limit of interest on education loan for child for the assessment year 2017-18
Alakshendra Rai (Service) (40 Points)
07 March 2017
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160976 Points)
Replied 07 March 2017
Interest rates on any loan are based on RBI repo rate and and revised every quarterly. Based on that banks have their own policy to fix rates of different loans, but usually differ by fraction of percentage.
Alakshendra Rai
(Service)
(40 Points)
Replied 08 March 2017
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160976 Points)
Replied 09 March 2017
No change in recent budget. Total amount of interest paid over educational loan is deductible u/s. 80E.
Refer: https://cleartax.in/Guide/section-80e-deduction-for-interest-on-education-loan
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