Tax Exemption on Education Loan repayment
This query is : Resolved
Rakesh Singh
(Querist)
04 March 2008
Can you please tell me that whether repayment of principal or interest or both are exempted from income tax from year 2008-09?
Is there any limit on each of the individual component(principal/interest) or any combined limit for exemption?
Is there any limit on each of the individual component(principal/interest) or any combined limit for exemption?
05 March 2008
Only int paid towards education loan is exempted and not repayment thereof u/s 80E of The Income Tax Act,1961.
There is no such limit as such for deduction
There is no such limit as such for deduction
05 March 2008
ONLY INTEREST IS ALLOWABLE FOR DEDUCTION U/S 80E AND THERE IS NO LIMIT
CA. Kirti S. Ganatra
(Expert)
05 March 2008
No, Only Interest is deductible U/s. 80E
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