Section 80E provides a deduction on interest paid on loans taken for higher education.
Further, 80EEand 80EEA provide income tax deductions on the interest paid for purchasing a residential property through a loan. Some of the conditions associated with 80EE are:
- Value of the house should be Rs 50 lakh or less
- Loan taken for the house must be Rs 35 lakh or less
- The loan must be sanctioned by a financial institution or a housing finance company
- The loan must be sanctioned between the specified period
- As of the date of the sanction of the loan, no other house property must be owned by you
- Maximum deduction of Rs. 1,50,000
If you are looking for a deduction u/s 80EEA, then you are not eligible.