Interest Loan Reduction for Foreign Education Loan
This query is : Resolved
12 March 2009
I am planning to take a Rs 20 L loan from an Indian bank to fund my MBA in Canada and I understand that the Indian laws allow an individual to avail 100% tax deduction for the interest payment for an education loan. Since I will be residing in Canada under student VISA and later as a Migrant Worker, I was wondering how will i avail the aforementioned tax deduction, if at all?
Thanks
SH
Thanks
SH
12 March 2009
If any of your income is taxable in India, then only you can clim deduction against your GTI, otherwise not.
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