During the F.Y. 2017-18, Mr. A took a loan of Rs. 12 lacs from a nationalized bank for paying the course fee of his son, studying in class XI. In F.Y. 2018-19, he had paidRs. 30,000 as interest, in two half yearly installments of Rs. 15000 each. what is the amount of deduction he can claim u/s 80E of I.T. act?
1. 15,000
2. 30,000
3. 1,20,000
4. Nil
Menu
Deduction u/s 80E
Replies (2)
Quick Summary
Answer is Nil
Because Loan is taken for passing class XI exams
Deduction u/s 80 E is available only if Loan is taken for Higher education - It means education after passing class XII
Ok thank you sir
Recent Topics :
- Updating form 10-ee and Schedule FA if there is ch
- Sale of property in SLUM area ....SRA
- GST applicability on Shipping charges
- Outstanding Demand in Income Tax: How To Respond?
- LTCG on property sale
- Capital gains incidence due to bonus shares
- Amendment of Object Clause of Memorandum
- How Can I Request a Refund for an Accidental Airte
- TDS on salary paid in cash
- YEAR END GST ENTRY FOR RCM NOT PAID RS 5000 I.E OU
Related Topics :
CAclubindia
