EDUCATION LOAN EXEMPTION

Dear Gaur,

You Can take exemption of Interest on Educational Loan U/s 80E. You can't take benefit of Principal Amount as Deduction under Chapter VI-A.

Total Amount of Principal & Interest                  1,31,000

Less :- Deduction Under Chapter VI-A

             U/s 80E                                                  (61,000)

                                                                           ---------------

Disallowed Deduction                                          70,000

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Agree with Jha...

you are eligible to deduct Rs. 61000/- as  higher education loan int. u/s 80E but not eligiblie deduction of Rs. 70,000/- principle amt.