Sec 80e deduction

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 April 2016 Dear Experts,
Plz confirm how much maximum
Deduction can be avail u/s 80E in one year,
Is there any limit

Regard
Rakesh singh

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

27 April 2016 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
The limit is that it should out of income chargeable to tax.

Message likes : 1 times

Kaushik Joshi

Kaushik Joshi (Expert)
Follow

27 April 2016 agreed with Mr. Amol no limit by act. only by your capacity to pay.

Upgrade to CAclubindia Pro. Subscribe Now!

Querist : Anonymous

Querist : Anonymous (Querist)

28 April 2016 Sir i am paying around 1.6 Lakh interest
weather full 1.6 Lakh can be claimed u/s
80E

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

28 April 2016 yes, obviously, if you are satisfying the other conditions of the section viz. the said interest should have been paid out of your income chargeable to income tax.