80 G donation limit
DEEP SHAH (7 Points)
25 July 2021
DEEP SHAH
(7 Points)
Replied 30 July 2021
CMA Poornima Madhava
(CMA)
(13082 Points)
Replied 30 July 2021
You may avail deduction u/s 80E provided such institute is an approved charitable institute (check with them if they are). Deduction can be claimed once repayment starts and can be claimed up to a max of 8 years.
No limit on the max deduction. Entire interest for the year can be claimed as deduction u/s 80E.
CMA Poornima Madhava
(CMA)
(13082 Points)
Replied 31 July 2021
If no interest is paid, no deduction can be availed u/s 80E
CMA Poornima Madhava
(CMA)
(13082 Points)
Replied 31 July 2021
80G deduction is related to contributions/donations made to charitable institutions (not regarding loan from such institutes)