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Date : Mar 23, 2009

Question

We wish to avail education loan for our son's studies for MBA. Please let me know if we pay interest on education loan from beginning of the course can we claim income tax deduction from our salary. Please let me know through which section we can claim income tax relief. Because we have already crossed the limit of one lac rupees under 80 c. if it comes under 80 c it is not benefittable to us. if we pay the interest and can my son claim income tax relief after he joins his service.

Answer

Tax benefits on education loans help you reduce the overall cost of the loan.You can claim a deduction under section 80 E of the Income-Tax Act for the interest paid on an educational loan. For more..

 

 

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