Hi!
I want to know is there principal & interest part of Education Loan both are exempted? & is there any limit of deduction? under which section it is covered.
plz reply soon
4 Replies
Pravee Haridas
(Lecturer - CPT)
(112 Points)
Replied 29 July 2008
There no monetary limit fro education l;oan
Rushikesh
(Chartered Accountant - Manager Finance)
(2375 Points)
Replied 29 July 2008
There is no limit upto Rs. 1lakhs, as this 80E section is now merged in 80C
Ashwin sharma B.S
(JUNIOR MANAGER (ACCOUNTS))
(28 Points)
Replied 30 July 2008
principal repayment is not eligible for deduction under sec 80E, Any amount of interest paid is eligible for deduction. max period 8 A.Y.
Rushikesh
(Chartered Accountant - Manager Finance)
(2375 Points)
Replied 30 July 2008
Also, this deduction is availble obnly for the full time courses
Recent Topics
- How to reverse wrong transaction payment in phonep
- Paytm wrong transaction
- How to reverse wrong transaction payment in phonep
- Issue with refund for person who has filed for rel
- How to take ITC for October 2024 GST Payment in PM
- How to refund a wrong transaction Phone Pe?
- Avoiding tax audit in case of intraday equity loss
- Form 3CEAB
- Form 3CEAA and Form 3CEAB
- DIR 3 Web KYC
Related Threads
CAclubindia
