International educational loan tax free or not
whether international educational loan tax free or not under section 80E & whether there is any tax rebate on international educational loan interest
Replies (1)
Benefit u/s80E will be by way of deduction of interest on loan taken from any financial institution or approved charitable institution for pursuing one’s higher education or for higher education of a relative. Higher education will mean any studies pursued after passing of Senior Secondary Examination or equivalent and relative will mean spouse and children of an individual.
Subject to satisfaction of above conditions, interest could be deducted while computing total income.
Above response is with understanding that when you use “International Educational Loan”, it is used for loan availed from Indian Financial Institution for studies abroad.
Subject to satisfaction of above conditions, interest could be deducted while computing total income.
Above response is with understanding that when you use “International Educational Loan”, it is used for loan availed from Indian Financial Institution for studies abroad.
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