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DEEP SHAH

7 Points Posted on 25 July 2021

as I take loan from 80G trust for education and I paid it regularly... .. weather it qualified ?limit ?

Replies (7)

Quick Summary

This discussion clarifies that deductions for education loan interest fall under Section 80E, not 80G. You can claim the entire interest paid on an education loan from an approved institution for up to 8 years, with no maximum deduction limit. To qualify, you must have taken the loan for higher education and be repaying it.

CA. Sourav Sarkar

Chartered Accountant

24588 Points Posted on 25 July 2021

Please elaborate in details

DEEP SHAH

7 Points Posted on 30 July 2021

I had taken education loan from 80G institute which I paid in current F.y ...to what extent ...i get deduction...?limit if the same. ?

CMA Poornima Madhava

CMA

13117 Points Posted on 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.