Deduction or Rebate in Education Loan
Ashok Balwant (5 Points)
23 April 2023
Is any deduction or rebate available for payment of installment of higher education loan? (For MS after MBBS)
2 Replies
ashish
(ca)
(82 Points)
Replied 23 April 2023
For instance, under Section 80E of the Income Tax Act, 1961, a deduction can be claimed for the interest paid on an education loan taken for higher studies for yourself, your spouse, or your children. This deduction can be claimed for a maximum of eight years or until the interest is paid in full, whichever is earlier.
sabyasachi mukherjee
(27858 Points)
Replied 23 April 2023
Subject to the provisions of pescribed educational qualified under the income tax act 1961
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