banner_ad

Education loan Section 80E

This query is : Resolved 
Profile Image

Profile Image

(Querist)
01 March 2021 Hi

I have taken an education loan in May 2018 for my higher education. I have started the repayment of the loan in May 2020. During those two years, my interest generated was around INR 1,75,000.
By the end of Feb 2021, I have paid all accrued interest as well as interest generated from May 2020 to Feb 2021 (Which is around INR 75,000).
Now my question is under section 80E of the income tax act, can I avail a deduction of INR 2,50,000 (INR 1,75,000 + INR 75,000 ) ? or I can avail of tax deduction of interest generated during FY20-21 only i.e. INR 75,000 approx.
Profile Image

Bhaskaran Chackrapani Warrier

Profile Image

Bhaskaran Chackrapani Warrier (Expert)
01 March 2021 Eligible for deduction amounting to Rs. 2,50,000.
Profile Image

Meet Patel

Profile Image

Meet Patel (Querist)
01 March 2021 Thanks Sir

Can you please suggest an approved document for this deduction?
Loan Statement or Interest certificate
Profile Image

Bhaskaran Chackrapani Warrier

Profile Image

Bhaskaran Chackrapani Warrier (Expert)
02 March 2021 Interest paid certificate.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details