Deduction for Higher Education Loan 80E

Relevant clause of section are reproduced hereunder for ready reference :

1. Eduction loan should be taken by Assessee.
2. The repayment should be out of income chargeable to income tax means if repayment is made from income exempted from income tax than deduction will not available.
3. The amount eligible for deduction is repayment of eduction loan interest.
4. There is no limit for amount of repayment of interest ELIGIBLE FOR DEDUCTION
5. This deduction is available in respect of the initial assessment year and seven assessment years immediately succeeding the initial assessment year or until the interest is paid by the assessee in full, whichever is earlier.
6. Initial Assessment year means previous year in which assessee starts paying the interest amount.
7. The loan should be taken for the purpose of higher eduction,and higher eduction means
   
   1. full-time studies for
      
   2. any graduate or post-graduate course in
      
      1. engineering,
         
      2. medicine,
         
      3. management or for
      4. post-graduate course in applied sciences or pure sciences including mathematics and statistics;
8. The loan should be taken from any financial institution or any approved charitable institution.
9. The loan should be taken for higher study of himself or studies of relative
10. Relative under this section means the in relation to an individual, means the spouse and children of that individual.
11. Earlier to previous year 2006-07 the above deduction is available for loan taken and repaid by the assessee only but after finance act 2007 ,"the or for the purpose of higher education of his relative"
12. There is no deduction available for repayment of principal ,this deduction is available to only for interest.
13. This deduction is available for individual only and not for other type of assessee .
14. The loan should be for pursuing higher studies means its includes loan taken not only for tuition or college fees only but other incidental expenses for pursuing such studies like hostel charges,transport charges etc etc,
15. There is no condition that the course should be in India .

please read some hypothetical examples for clarification.

Ans:In above example Ram will get tax benefit under section 8o E from p.y 2007-08 i.e initial year of payment and next seven year i.e upto previous year 2014-15 or upto full payment of loan which ever is earlier.

Ans:Only ram will be eligible for deduction of 20000 rs .His father is not eligible for deduction the reason behind this is that loan has been taken by the Ram and not by his father as mentioned in point one above ,though his father is satisfy the condition of relative and paid the interest also but he has not taken the loan

Ans: No,on the reverse parents can claim the benefit for payment of interest for higher studies .

Ques:Ram has taken a loan for his higher studies ,and has repaid the laon interest amount but unfortunately he has not succeeded in exams and could not complete his higher studies.

Ans:As per section loan should be for