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tax on repayment of education loan

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(Querist)
02 December 2010 please clarify me whether any deduction available for repayment of Education loan (Principal)amount U/s.80c or 80E?
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
02 December 2010 No deduction for principal repayment. Interest repayment is covered under section 80E of the Income tax Act,1961.
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saikiran

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saikiran (Querist)
02 December 2010 thanq sir
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CA.ViVeK M ACA

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CA.ViVeK M ACA (Expert)
03 December 2010 Principal payment is in the nature of capital expense transaction and hence not allowed as a deduction

However, interest shall be treated as a revenue transaction and hence it will be allowed as expense

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