Getting oneself educated from one of the best colleges is a dream of many, but how many do actually get that fulfilled? However, if you are able to get an education loan, that can make things easy and moreover you can also get a tax deduction benefit while repaying the loan. Section 80E makes it possible for claiming deductions under the I-T Act. Firstly an individual who is opting for higher education can avail education loan. The loan must be sanctioned by any financial institution like banks, charitable institution, etc. There is no limit to claim the amount of interest under the deductions 80E. The deductions can be claimed only when you start paying your loan. To claim the interest, you need to take the statement from your college and submit that to your HR department at the time of declaring your taxes or else you can claim it while filing the income tax return. Either you or your parents can claim the deductions depending upon who has taken the loan for the full-time education. It is always advisable to claim the deductions within 8 years because this way you can claim all your interest amount under the section mentioned by the I-T Act.
Read More: [ Ссылка ]
Ещё видео!