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Previous year Intererst of education loan

Ganesh (SE) (30 Points)

06 December 2009

I got education loan from a bank in 2007 for my M.Tech Course. I never deposited any interest . Now this year i completed my course and got job. I want to repay all the interest money(interest charged in current year + interest charged in previous two years). will i get income tax relief for the interest paid for previous year also??

Thanks,

Ganesh

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3 Replies

Shashi Bhushan (Learner, Jalandhar) (996 Points)
Replied 06 December 2009

Yes you will get the deduction of interest paid in previous year wheather it relates to previous year or not. pay. you will get the deduction of sec 80 E of actually sum paid.

because in Act wording is "any amount paid by him in the previous year".

Ganesh (SE) (30 Points)
Replied 06 December 2009

Thank U very much shashi ! Actually yesterday i went to deposit all the interest but bank people confused me and told me that i will not get any benefit for previous year interest. Now u cleared my confusion. Thanks again .

Ganesh

Ansari (ca final) (444 Points)
Replied 06 December 2009

Originally posted by :Shashi Bhushan
"	Yes you will get the deduction of interest paid in previous year wheather it relates to previous year or not. pay. you will get the deduction of sec 80 E of actually sum paid. because in Act wording is "any amount paid by him in the previous year".	"