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80E deduction

Manindar Kakarla (C.A.Student) (42 Points)

23 November 2007

Will interest on education loan taken for study of M.S.(computers) in U.S.A. is eligible for 80E deduction irrespective of the fact that it is not recognised by UGC?

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CA AYYAPPA (Chartered Accountant) (272 Points)
Replied 23 November 2007

Yes, the deduction under 80E shall be allowed as deduction. (there is no condition as it shall be registered under UGC) contents of 80E are given below (c) higher education means full-time studies for any graduate or post-graduate course in engineering, medicine, management or for post-graduate course in applied sciences or pure sciences including mathematics and statistics; U can access the 80E as per the Income Tax act just follow the below link https://law.incometaxindia.gov.in/TaxmannDit/DispCitation/ShowCit.aspx?fn=https://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2007ITAct/section80E.htm