deduction u/s 80E

an assesse has  borrow loan from froeign country for higher education ....can he claim deduction u/s 80E for the interest amount

Replies (4)

yes

an assessee can claim deduction

if he/she borrowed loan  from any recognized financial institution...

from anywhere, whether in INDIA or OUTSIDE INDIA

DEAR SOURABH,

 

YES AGREED WITH DHEERAJ.

DEDUCTION UNDER SEC 80E WOULD BE ALLOWED SUBJECT TO :

1. DEDUCTION WOULD BE ALLOWED ONLY FOR INTEREST PAID ON SUCH EDUCATIONAL LOAN

2. LOAN SHOULD BE TAKEN ONLY FROM ANY BANKS, NOTIFIED FINANCIAL INSTITUTIONS OR APPROVED CHARITABLE INSTITUTIONS WHETHER IN INDIA OR OUTSIDE INDIA.

3. LOAN SHOULD BE TAKEN FOR FULL TIME GRADUATE OR PG COURSE ON ENGINEERING , MEDIINE, MANAGEMENT OR PG  IN APPLIED SCIENCE OR PURE SCIENCE.

4. IT IS IRRELEVANT WHETHER U PERSUE COURSE IN INDIA OR OUTSIDE INDIA.

5. INTEREST ON LOAN SHOULD BE PAID ONLY OUT OF THE INCOME WHICH IS NOT EXEMPT FROM TAX.

FINANCIAL INSTITUTION MEANS ANY FINANCIAL INSTITUTIONS TO WHICH BANKING REGULATION ACT APPLIES AND INTITUTIONS NOTIFIED BY OFFICIAL GAZZATE.

IF ALL THIS 5 CONDITIONS SATISFIES, U WOULD BET DEDUCTION U/S 80E

 

 

REGARDS,

 

MANOJ

yes agreed, no limit of interest to take benefit u/s 80E

Ya agree with the above friends, loan borrowed from a financial institution for purpose of Educatiion whether in india  or Abroad , the Assessee can  calim deduction u/s 80E interest part without any limit amount , upto 8 years from the date of borrowing .:)

Regards 

harish

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
12 October 2026
AUDIT , ACCOUNTS AND TAXATION

KDSS

New Delhi

B.Com

View Details
Company
ARTICLESHIP 30 September 2026
CA Article Assistant

CA Suraj Garg & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 06 October 2026
Semi Qualified

AJAY SINGH AND CO LLP

Thane

CA Final

View Details
Company
12 October 2026
Chartered Accountant - Internal Audit

HKC | Chartered Accountants & Business Advisors

Ludhiana

CA

View Details
Company
08 October 2026
Account Executive

Elite Taxation

New Delhi

CA Foundation

View Details
Company
08 October 2026
SALES TELECALLER

HIRE NOVA

Lucknow

Graduate (Any)

View Details
Company
ARTICLESHIP 20 October 2026
CA ARTICLE

AMKN & CO

Noida

CA Inter

View Details
Company
30 September 2026
Senior Accounts Executive

Codeboard Technology

Chennai

MBA

View Details