Education loan Sec 80E
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 May 2011
My client wants to take education loan for his daughters education. Course is industrial product design offered by DSKsupinfocom International Campus Pune which is a joint venture between DSK Group Pune and Chamber of Commerce France. The certificate after degree will be ratified by French Govt. My query is :
1. Higher education means any course of study pursued after passing SSE or its equivalent from any school, board or university recognised by Central/State Govt or local authority or by any other authority authorised by central/state govt or local authority to do so. Whether he will be eligible for deduction as above international campus has no such recognition though their campus is based in Pune.
2.If the ans. to 1 is yes, If he avail loan from bank in 2011-12 where repayment is to start after 5 years i.e. 2016-17 but he is required to pay interest during moratorium period i.e. 2011-2016 which year will be treated as initial year I,e. 2011-12 or 2016-17 as he start to pay interest in 2011-12 but emi ( repayment of loan ) will start in 2016-2017.
thanks in advance.
1. Higher education means any course of study pursued after passing SSE or its equivalent from any school, board or university recognised by Central/State Govt or local authority or by any other authority authorised by central/state govt or local authority to do so. Whether he will be eligible for deduction as above international campus has no such recognition though their campus is based in Pune.
2.If the ans. to 1 is yes, If he avail loan from bank in 2011-12 where repayment is to start after 5 years i.e. 2016-17 but he is required to pay interest during moratorium period i.e. 2011-2016 which year will be treated as initial year I,e. 2011-12 or 2016-17 as he start to pay interest in 2011-12 but emi ( repayment of loan ) will start in 2016-2017.
thanks in advance.
CA MANOJ GUPTA
(Expert)
07 May 2011
THE CONDITION IS THAT THE INSTITUTION IMPARTING EDUCATION MUST BE RECOGNISED/AUTHORISED BY THE CENTAL/STATE GOEVRNMENT
THIS CONDITION IS NOT FUFILLED HENCE NO DEDUCTION WILL BE ALLOEWED
CA MANOJ GUPTA
JODHPUR
09828510543
THIS CONDITION IS NOT FUFILLED HENCE NO DEDUCTION WILL BE ALLOEWED
CA MANOJ GUPTA
JODHPUR
09828510543
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