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  #1  
1st November 2016, 02:55 PM
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How can I get tax benefits in Bank Education Loan?


I came to know that I can get tax benefits also while applying Bank Education Loan. But I don't get this point that how I can get tax benefits. Someone please explain.




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  #2  
4th November 2016, 08:38 AM
SudeepKumarSaha
Senior Member+++++
  
Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: How can I get tax benefits in Bank Education Loan?

Yes, you can get tax benefit while repaying the education loan. As per the income tax law in India, the interest which you are paying to the bank will be deducted from your net income to determine the taxable income. There is no limit to this amount, so the full amount which you are paying as interest will be waived off while calculating your tax.
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