Dear All,
I am going to take an Education Loan from a bank for doing CPA, now my question is Whether payment of interest towards education loan is deductible u/s80E of IT Act or not?
Thanks,
CA.Anuj Kumar Sharma
5 Replies
sagar
(CA Final)
(379 Points)
Replied 10 June 2008
Yes,
Your interest payment on education loan is subject to rebate u/s 80E. This is in respect and provided if u have taken loan for your own studies.
sagar
(CA Final)
(379 Points)
Replied 10 June 2008
Hey.. wait wait, dont read that previous post.
Are you a Chartered Accountant?? If yes, then I should not suggest you coz, still I am a student only.. I cant understand why people ask even if you know?? Above all CAs
CA.Anuj kumar sharma
(Service in Public Ltd. Co.)
(99 Points)
Replied 10 June 2008
Hi Dear,
I suppose it is not allowed under IT Act , as in my view CPA is part time course and deduction is only available in case of Full time course.
Bye
sagar
(CA Final)
(379 Points)
Replied 09 July 2008
No,
If you want to take loan for your CPA studies, it is allowed as dedcution. According to provisions, you should take loan for higher studies like, medical, engineering or similar other professional cources. Hence you can avail this benefit
Rushikesh
(Chartered Accountant - Manager Finance)
(2375 Points)
Replied 24 July 2008
But the collorary also states that it should be a full time course.
No deduction is available for the aprt time courses
Recent Topics
- Adding new donor to form 10 BD after due date
- RCM on MCA Fees?
- Purchase value of property sold
- 10E - Relief u/s89 Calculation
- TDS Section 194T not showing in dropdown list of s
- LTCG gainsd
- Query - Single 26QB for Payments (incl Advance) ma
- RCM ON RENT U/S 9(3)
- TDS on rent if the monthly rent Exceeds Rs.50000
- Notice rec.under section 74
Related Threads
Trending Online Classes
CAclubindia
