Education loan
This query is : Resolved
sumitendra
(Querist)
20 August 2013
Whether repayment of education loan is eligible for deduction at the time of assesment of Income Tax ?
CA PARAS BAFNA
(Expert)
20 August 2013
Interest only can be claimed as deduction in the year of payment.
.
The deduction has to be claimed in the return of income and if not claimed as deduction it depends upon the AO to allow such deduction at the time of assessment.
.
.
The deduction has to be claimed in the return of income and if not claimed as deduction it depends upon the AO to allow such deduction at the time of assessment.
.
sumitendra
(Querist)
20 August 2013
Please inform the relevant section under which interest on education loan can be claimed as deduction.
CA PARAS BAFNA
(Expert)
20 August 2013
Please refer Section 80E.
.
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