Save Rs 499 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

80E deduction for major

238 views

Save Share

Join Us Follow Us Add as Source

kaipa samhitha

3 Points Posted on 07 March 2023

Can a person who has taken educational loan for a major who is dependent on him claim deduction

Replies (2)

Quick Summary

Section 80E of the Income Tax Act allows individuals to claim deductions for the interest paid on educational loans taken for higher education. This deduction applies regardless of whether the student is a major or minor, dependent or independent. The key is that the loan must be for higher education, and the individual claiming the deduction must be the one paying the interest.

CA Raj Doshi

Practising CA

8954 Points Posted on 08 March 2023

Sec 80E allows deduction in respect of interest on loan taken on higher education of relatives. For the purpose of this section, relative, in relation to an individual, means the spouse and children of that individual or the student for whom the individual is the legal guardian.

So it is irrelevant if the child is major or minor, dependent or independent.