Deductions

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 March 2015 Sir,

One of the Assessy is having Education Loan on his name whether will claim deduction or not ?

Please suggest me sir

richa d

richa d (Expert)
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14 March 2015 The assesse can avail deduction u/s 80E for amount paid by him as interest on education loan taken for himself.

For reference 80E states- (1) In computing the total income of an assessee, being an individual, there shall be deducted, in accordance with and subject to the provisions of this section, any amount paid by him in the previous year, out of his income chargeable to tax, by way of interest on loan taken by him from any financial institution or any approved charitable institution for the purpose of pursuing his higher education or for the purpose of higher education of his relative.