Section 80e
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 March 2016
Education loan from employer like LIC is eligible or not for exemption?
05 March 2016
No for 80E such loan is not eligible
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 March 2016
Even though LIC is financial institution?
05 March 2016
As per 80E
“financial institution” means a banking company to which the Banking Regulation Act, 1949 applies (including any bank or banking institution referred to in section 51 of that Act); or any other financial institution which the Central Government may, by notification in the Official Gazette, specify in this behalf; -
As per section 45I clause (c) of RBI Act 1934, LIC is included in financial institution list
Hence your education loan from LIC will be eligible for 80E deductio
Earlier I advised wrongly . Sorry for that.
“financial institution” means a banking company to which the Banking Regulation Act, 1949 applies (including any bank or banking institution referred to in section 51 of that Act); or any other financial institution which the Central Government may, by notification in the Official Gazette, specify in this behalf; -
As per section 45I clause (c) of RBI Act 1934, LIC is included in financial institution list
Hence your education loan from LIC will be eligible for 80E deductio
Earlier I advised wrongly . Sorry for that.
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