80E - financial institutes

Learning eco (A) (26 Points)

02 December 2010  

Hello folks,

I have a question regarding section 80E of Income tax. The section allows one to deduct the interest paid for education purposes from his income tax. However, loan taken in foreign currency and from foreign bank - are they covered under section 80E? 

For instance, a loan taken in Euros from BNP Paribas in France. Would that be covered by section 80E. 

-Abhas