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Interest paid on loan taken from LIC policy can be allowed as Deduction VIA.
Replies (7)
Not always!!
If utilized for house property etc......... then YES.....
Sir , loan taken from LIC is purpose of education and interest paid can be allowed r not??
Check if it qualifies conditions specified as per section 80E............. Otherwise not.
Thank you Sir
Most Welcome
To claim deduction of Interest on Education Loan, The loan should be taken from Banks/Financial Institution or any approved Charitable Institution. So this should solve your query..
LIC covers under financial institution.
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