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Education loan intrest of children are fully exempted

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(Querist)
15 February 2013 sir, is education loan intrest is fully exempted in net income
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
15 February 2013 Interest on Education Loan is deductible from the Gross Total Income of the assessee.
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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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