Tds deduction
This query is : Resolved
03 January 2015
my self bhupender ,my monhly salary is 24000 p.m. therefore my annual salary is 288000.
company is deducting tds from it.And i have taken a education loan of rs 270000 during a studies (2011).Now i am working giving 14000 installment of loan.did i get any deduction
company is deducting tds from it.And i have taken a education loan of rs 270000 during a studies (2011).Now i am working giving 14000 installment of loan.did i get any deduction
CA R SEETHARAMAN
(Expert)
03 January 2015
The entire interest part(Section 80E) of the loans repaid can be deducted while calculating your taxable income. There is no upper limit for grant of deduction in respect of interest on loan for higher education. Also, there is no upper limit of the rate of interest which will be allowed as a deduction.
Rupesh Jain
(Expert)
03 January 2015
you can get deduction of intt paid on the education loan during the year. there is not limit for that.
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