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  #1  
29th March 2016, 09:39 PM
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How much amount to be claimed in Income Tax Rebate against an Education Loan of Rs. 10 Lacs?


Hello Sir,
I am giving Income Tax and maintaining file from last 7 years. I have my own small business. Now, I have taken an Education Loan for my Daughter of Rs. 10 Lacs. I want to know that what amount of tax rebate I get due to this Education Loan?




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  #2  
2nd April 2016, 05:55 PM
bhushankumar398
Senior Member++
  
Join Date: Jun 2013
Posts: 1,303
Default Re: How much amount to be claimed in Income Tax Rebate against an Education Loan of Rs. 10 Lacs?

Educational loan is given to those students who get admission in any professional course such as Engineering, Medical, Hotel Management etc. You are interested to know about the income tax rebate against educational loan. Yes definitely you will get rebate in income tax.

>>It is the provision under section 80E that the amount of interest paid is eligible for deduction in taxable income. For this you have to visit to the bank branch through which you have taken educational loan. Bank will provide the statement of interest. You have to submit the statement in your organisation for getting reduction in taxable income.
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