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#1
21st October 2015, 01:46 PM
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Between Principal and Interest amount on which I can claim Tax rebate on Education Loan?
Hello Everyone,
I have taken education loan for my son who is doing B.Tech now. I want to know about Tax rebate. I want to know that on principal amount or interest amount, I can claim for Tax rebate?? |
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#2
24th October 2015, 01:59 PM
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Re: Between Principal and Interest amount on which I can claim Tax rebate on Education Loan?
You can claim for income tax rebate on the interest which you are paying to the bank on account of education loan for your son who is doing B.Tech now. You cannot claim income tax rebate on the principal amount which you have taken as education loan. Later when you will repay the loan, the income tax rebate can be charged on the repayment amount (EMI) which will be paid for a particular period of time.
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