SECTION 80-E
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 May 2011
WHAT IS THE MAXMIMUM LIMIT OF INTEREST THAT CAN BE CLAIMED U/S 80-E
ALSO CAN THE PRINCIPAL AMT. PAID FOR EDUCATION LOAN ALSO BE CLAIMED AS DEDUCTION, SIMILAR TO HOUSING LOAN REPAYMENT U/S 80-C
ALSO CAN THE PRINCIPAL AMT. PAID FOR EDUCATION LOAN ALSO BE CLAIMED AS DEDUCTION, SIMILAR TO HOUSING LOAN REPAYMENT U/S 80-C
01 May 2011
Section 80E speaks only for deduction of Interest. Principal amount repaid cant be allowed as deduction. Further there is no cap on the amount of interest paid. However, the total deduction along with other deductions in Chapter VI-A cant be more than the gross total income of the assessee. However, the Section puts a cap on the number of years which the deduction is allowed and that is Seven years.
CA. Amol G. Kabra
CA. Amol G. Kabra
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 May 2011
thnx a ton, Amol ji
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Exiting partner in partnership firm in gst portal
- CLOSING STOCK QUERY
- Rent claimed on building given on permissive possession basis
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- Taxability of credit in canara bank ET & T section (NRO)
- CASH GIFT FROM BLOOD RELATIVE
- TDS offline utility
- Due Date Clarity
- Loss of interest in PF transfer from EPFO to Trust
- IT returns for fresh job holders
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
