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Re : Deduction 80E

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 January 2010 80E deduction can be taken by person himself or relative . my q is a person who has taken loan for higher studies mba paid interest 2 years. 3rd year whn he started earning he can claim deduction of loan interest , so whthr he

1 Can claimdedeuction for 3 year only
or
2 Can claim for cumulative three years
bcoz earlier to that he was not earning ,no taxable income nd nor even his parents claimed deduction .

also is there any ceiling limit like RS 40000 or something.

kindly let me know.
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CA Devanshi Gandhi (Ajani)

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CA Devanshi Gandhi (Ajani) (Expert)
05 January 2010 Any amount paid by way of interest on loan taken from any financial institution or any approved charitable institution for his/her higher education or w.e.f. 1-4-2008 for the purpose of higher education of his/her spouse and children.
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