During the F.Y. 2017-18, Mr. A took a loan of Rs. 12 lacs from a nationalized bank for paying the course fee of his son, studying in class XI. In F.Y. 2018-19, he had paidRs. 30,000 as interest, in two half yearly installments of Rs. 15000 each. what is the amount of deduction he can claim u/s 80E of I.T. act?
1. 15,000
2. 30,000
3. 1,20,000
4. Nil
Answer is Nil
Because Loan is taken for passing class XI exams
Deduction u/s 80 E is available only if Loan is taken for Higher education - It means education after passing class XII
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