Hi!
I want to know is there principal & interest part of Education Loan both are exempted? & is there any limit of deduction? under which section it is covered.
plz reply soon
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what is limit of deduction of Education Loan
Replies (4)
There no monetary limit fro education l;oan
There is no limit upto Rs. 1lakhs, as this 80E section is now merged in 80C
principal repayment is not eligible for deduction under sec 80E, Any amount of interest paid is eligible for deduction. max period 8 A.Y.
Also, this deduction is availble obnly for the full time courses
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