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Sec 80E of the I. T. Act

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Querist : Anonymous

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Querist : Anonymous (Querist)
08 June 2010
an individual has taken loan for higher studies on the basis of his father's file.

now three years after taking of loan, he starts earning salary income and starts repaying loan along with instalement of principal amount.

whether he would be allowed deduction u/s 80E of the IT act.

further he start his file from that year only.
how should he treat this loan in his I.T. file ?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
08 June 2010 Under sec.80E he is eligible to claim interest on education loan paid by him during the previous year.

Since he is paying for his own studies no problem for claiming the deduction
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