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Income tax

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02 March 2009 please suggests whether loan taken for higher studies is eligible for deduction in incometax or not?
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CA LOKESH KASAT, FCA, M.Com

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CA LOKESH KASAT, FCA, M.Com (Expert)
02 March 2009 As per Section 80E Interest paid on loan taken for higher education will be allowed as deduction, for 8 AY, starting from the year from which Interest was first paid.
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CA.Tarun Maheshwari

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CA.Tarun Maheshwari (Expert)
02 March 2009 Only interest portion can be claimed u/s 80E, if the course is covered into that section.
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