Education and Career Forum
Ask a Question Discussions Question PapersGovernment Jobs Ask a Question Papers Login Register
  #1  
7th June 2016, 02:39 PM
Unregistered
Guest
  
Posts: n/a

How tax can be calculated during repayment of loan amount?


Hello,
I am studying B.Tech through an Education Loan taken from Indian Bank. I have taken Loan amount of Rs. 5.5 Lacs and studying in 2nd year now. Can you tell me how tax can be calculated when I will repay this Loan amount?




Related Questions:
  1. Can I get Tax Deduction if taking Education Loan of Rs. 3,50,000 Lacs?
  2. How much amount to be claimed in Income Tax Rebate against an Education Loan of Rs. 10 Lacs?
  3. Maximum amount one can get in an Education Loan to study MBA? Details of interest rate and repayment mode?
  4. Is there any way of Tax Rebate against Education Loan of Rs. 305000?
  5. Can I extend the repayment amount if taken Education Loan of Rs. 6 Lacs?
  6. Detailed information about margin and repayment in education loan scheme?
  7. Maximum amount to be claimed for Tax Rebate against Education Loan of Rs. 400000?
  8. Detailed information about Margin and Repayment of Loan terms available in Bank Education Loan scheme?
  9. How to extend repayment time of education loan without interest?
  10. How to claim Tax Rebate on Education Loan of my brother taken by my father?
  11. Between Principal and Interest amount on which I can claim Tax rebate on Education Loan?
  12. How can I get my final year Loan amount if there is an error in repayment?
  13. How can I claim Tax Rebate on Education Loan taken by my father for my brother’s education?
  14. How can I claim Tax Rebate on Education Loan taken by my father for my brother’s education?
  15. Procedure and documents required to apply for education loan? What will be the interest rate and what kind of EMI will be deducted?
  16. How to calculate EMI of Loan amount of Rs. 6.5 Lacs at 5% interest rates under 5 years of tenure?
  17. Names of the permanent UGC recognized private universities? -- [Most Discussed]
  18. How much interest will be charged on Education Loan to study MDS? Detailed information about Mode of Repayment?
  #2  
9th June 2016, 09:21 AM
SudeepKumarSaha
Senior Member+++++
  
Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: How tax can be calculated during repayment of loan amount?

Tax will be calculated when you do a job and start repaying the education loan under your name. The EMI which you will be paying to the bank needs to be mentioned in your employer's payroll portal. The total amount which you will be paying the entire year should be mentioned. Then that amount will get deducted from your gross income for the entire financial year . You will need to pay tax for the remaining income if it is more than 2.5 lakhs. You will need to submit the bank statement of proof of your education loan repayment.
Do you have any question? or have anything to say?



« Disbursement procedure of Education Loan amount? | How to calculate EMI of Loan amount of Rs. 6.5 Lacs at 5% interest rates under 5 years of tenure? »

Related Topics:

Thread Replies Last Post
CBSE Scholarship for 10th passed SC student? 5 23rd August 2020 03:07 PM


Ask a Question - Contact Us - Entrance Exams - Privacy Policy - Archive - Top

Powered by vBulletin® Version 3.8.3
Copyright ©2000 - 2025, Jelsoft Enterprises Ltd.
Search Engine Optimization by vBSEO 3.3.0
vBulletin Optimisation by vB Optimise.
Please also check: