Exact answer : Tax benefit for fees for MBA paid for self ?

This query is : Resolved

CMA. Subhash Kumar Jha (Querist)
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03 January 2009 author : Subhash Kumar Jha
Posted On : 1/2/2009 5:15:06 PM
Sir,

I am a salaried employee.

How much i can get benefit for fees paid for my MBA from SYMBIOSIS (an UGC approved university)? & under what section?

Thanks

Subhash Jha
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Expert : CA.B.Chackrapani Warrier
Posted On : 1/2/2009 5:24:26 PM

Answered. No benefit to you.
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Expert : Chezhiyan
Posted On : 1/2/2009 5:54:01 PM

is that true?
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Expert : CA. Ravikumar
Posted On : 1/2/2009 6:03:52 PM

What if the employer reimburses the fee as towards "professional pursuit", whether this is exempted under 10(14)?
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Expert : CA.B.Chackrapani Warrier
Posted On : 1/2/2009 10:13:31 PM

I answered with a mistaken understnding that the question was raised u/s 80C. Inconvenience is regretted.
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author : Subhash Kumar Jha

Dear Sirs,

So finally what is the exact answer to my question & which is the section & limit amount?

Kindly reply soon

Subhash Jha

CA. Dashrath Maheshwari

CA. Dashrath Maheshwari (Expert)
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03 January 2009 Dear Friend,
you have not mentioned about the course, if its a full time course then Yes, the deduction under 80E shall be allowed. (there is no condition as it shall be registered under UGC) contents of 80E are given below (c) higher education means full-time studies for any graduate or post-graduate course in engineering, medicine, management or for post-graduate course in applied sciences or pure sciences including mathematics and statistics; U can access the 80E as per the Income Tax act just follow the below link http://law.incometaxindia.gov.in/TaxmannDit/DispCitation/ShowCit.aspx?fn=http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2007ITAct/section80E.htm

CA Chaitanya

CA Chaitanya (Expert)
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11 January 2009 If the employee has paid on his education, he cannot get the benefit of Sec 80 deduction. Refer section 80 C.

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CA Chaitanya

CA Chaitanya (Expert)
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11 January 2009 If he has taken loan for the education, then he can claim deduction u/s 80E for the interest payment upto a maximum period of 8 years.