Education loan intrest of children are fully exempted
This query is : Resolved
15 February 2013
sir, is education loan intrest is fully exempted in net income
CA PARAS BAFNA
(Expert)
15 February 2013
Interest on Education Loan is deductible from the Gross Total Income of the assessee.
.
Interest amount paid is fully deductible in the initial assessment year (AY) +7 succeeding AYs.
.
It is deductible on payment basis.
.
.
Interest amount paid is fully deductible in the initial assessment year (AY) +7 succeeding AYs.
.
It is deductible on payment basis.
.
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