Feb. 14, 2021, 9:56 a.m.
In this Section deduction is allowed to an Individual for Interest on loan taken for pursuing Higher Education.
The Loan may be for Taxpayer himself, or for spouse, or children or for Student for whom the taxpayer is a legal guardian.
No Restriction on Amount that Can be Claimed.
Deduction is available for a maximum of 8 years period(beginning the year in which the interest starts getting repaid) or till the entire interest is repaid, whichever is earlier.
In this Section deduction is allowed to an Individual for Interest on loan taken for pursuing Higher Education.
The Loan may be for Taxpayer himself, or for spouse, or children or for Student for whom the taxpayer is a legal guardian.
No Restriction on Amount that Can be Claimed.
Deduction is available for a maximum of 8 years period(beginning the year in which the interest starts getting repaid) or till the entire interest is repaid, whichever is earlier.