Will reschedule of Educational loan loose the 80E deduction on Interest accrued over the period?
as the same is added to principal
need reply as early as possible.
thanks in advance.
Regards
Mukund
Menu
Chapter VIA Deduction
Replies (1)
After rescheduling the unpaid interest becomes principal.
It can not be said that the accrued interest has been paid on rescheduling. As such non-payment of interest results into waiver of deduction on this particular part.
However, Interest will be calculated on the ENHANCED amount which is deductible U/s 80E on payment basis.
.
Recent Threads
- How to fill in csv file for Schedule 112A
- Gst 2a and Gst 3b difference
- What happens if a taxpayer forgets to file ITR but
- ITR 2 / Schedule FA / Income tax
- Best CA Office Management Software Tools for 2025
- GST ON ROYALTY APPLICABLE
- Income tax Regarding Rural Agriculture land
- Need Help & Clarification in ITR filing : ITR
- HOW TO ADD BANK ACCOUNT FOR A NON RESIDENT
- Gift to son for purchasing Commercial space
Related Threads
CAclubindia
