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CPA 1555 views 5 replies

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

Replies (5)

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.

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

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

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

But the collorary also states that it should be a full time course.

No deduction is available for the aprt time courses


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