Education Loan: Tax Implications: Overview

Income tax deductions are always welcome, even if the loan was taken to fulfill academic ambitions of your children. Tax deductions are available only on the principal of the education loan. The interest paid on these is not eligible for deductions.

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Education Loan: Tax Implications: Did you know...?

  • Government to tax students taking up overseas jobs
The Human Resource Development (HRD) ministry is planning a graduate tax or exit tax on students who take up overseas jobs after passing out from higher education institutions and their recruiters.

  • Education loans and tax benefits
Claim a deduction under section 80 E of the Income-Tax Act for the interest paid on an educational loan.

  • Clear education loans within 15 to 30 days says FM
Clear education loans within 15 to 30 days says FM.

Government to consider installment-free education loan proposal, banks to lend without collaterals