sec 80 E

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sruthi

sruthi (Querist)
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21 April 2010 is sec80E applicable even if education is pursued on part time basis for th AY 2010-11?

CA Suresh Kumar Agarwal

CA Suresh Kumar Agarwal (Expert)
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21 April 2010 The relief is available for the amount of the interest paid by the persons who have undertaken graduate or post graduate courses in any branch of engineering, medicine or management or post-graduate courses in any university in pure sciences, applied sciences, mathematics or statistics.

Manoj

Manoj (Expert)
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21 April 2010 No limit for deduction from AY 2010-11

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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21 April 2010 Dear Suresh, Only Interest on Education loan is allowed, from AY 2006-07 onwards the principal amount not eligible for deduction. actual payment of interest during the Previous year can claim deduction no limit of Rs.40000

CA Suresh Kumar Agarwal

CA Suresh Kumar Agarwal (Expert)
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21 April 2010 OK Dear you are right,
Deduction under section 80E of the Income-tax Act allowed in respect of interest on loans taken for pursuing higher education in specified fields of study to be extended to cover all fields of study, including vocational studies, pursued after completion of schooling

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CA Ravi Sisodia

CA Ravi Sisodia (Expert)
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21 April 2010 Agree with CMA Ramesh

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