Sec 80E-Interest on education loan

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..... Sec 80E-Interest on education loan
Query (Issue) Started By: - BHARAT COKING COAL LIMITED Dated:- 18-10-2016 Last Reply Date:- 18-10-2016 Income Tax
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Income Tax
A person is not .....

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..... able to get Education loan...So he is planning to get a Personal Loan solely to get used for the purpose of the higher education of his son studying abroad...Whether he will be getting the interest b .....

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..... enefit u/s 80E? Whether it is mandatory to get education loan only for getting benefit u/s 80E? Is the nature of transaction not important, given the fact that he is ready to maintain a seperate bank .....

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..... a/c to prove that the loan was used solely for the purpose of higher education of his son abroad.... An early opinion on the aforesaid issue is solicited... Thanks... Reply By Ganeshan Kalyani: The .....

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..... Reply: The loan should have been taken for the purpose of education. The provision does not states that loan should be in the name of education loan , the purpose of the loan is essential. The loan .....

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..... should have been taken for education. Hence i infer that you can take the benefit of interest paid on the loan taken for education.
Discussion Forum - Knowledge Sharing .....

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