Education loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 February 2012
if a person take a loan in 2006-07 and interest payment till loan clearance in 2011-12 amounting to rs 150000. Can he claim ded u/s 80E of entire amount in 2011-12.
Secondly, can the person take it in this year and following years.
Interest is paid in different years and not only in 2011-12.
Secondly, can the person take it in this year and following years.
Interest is paid in different years and not only in 2011-12.
02 February 2012
Claim has to be made in respective year, in which interest has been paid.
02 February 2012
Dear Author ,
point to remember is
deduction is availablee in the initial assessment year and seven assessment year immidiately succeeding the initial assessment yearor untill the interest is paid by the assessee in full,
whichever is earlier
initial assessment year is the amount in which asssessee starts paying interest amount and not the year in which loan is taken.
interest is available on payment basis
the year in which the interest is paid deduction is available
point to remember is
deduction is availablee in the initial assessment year and seven assessment year immidiately succeeding the initial assessment yearor untill the interest is paid by the assessee in full,
whichever is earlier
initial assessment year is the amount in which asssessee starts paying interest amount and not the year in which loan is taken.
interest is available on payment basis
the year in which the interest is paid deduction is available
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Pass word to open justification report for Q1 for FY 2026-27
- Scrutiny and reopening of past returns
- PPF interest-As Exempt Income disclosure
- Section 194JA & JB Income which ITR Form to use
- Tax on Deemed Capital Gain
- Type of Capital Gain
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
