tax on repayment of education loan
This query is : Resolved
02 December 2010
please clarify me whether any deduction available for repayment of Education loan (Principal)amount U/s.80c or 80E?
02 December 2010
No deduction for principal repayment. Interest repayment is covered under section 80E of the Income tax Act,1961.
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03 December 2010
Principal payment is in the nature of capital expense transaction and hence not allowed as a deduction
However, interest shall be treated as a revenue transaction and hence it will be allowed as expense
However, interest shall be treated as a revenue transaction and hence it will be allowed as expense
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