80 G donation limit
DEEP SHAH (7 Points)
25 July 2021
as I take loan from 80G trust for education and I paid it regularly... .. weather it qualified ?limit ?
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)
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