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  #1  
21st October 2015, 12:45 PM
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What does rebate means in Education Loan? Benefits in Tax?


Hi Sir,
What are the tax benefits on educational loan? What is the rebate? Kindly tell me about this. Waiting for your reply.




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  #2  
31st October 2015, 11:29 PM
ArunavaBasu
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Join Date: Mar 2015
Posts: 2,155
Default Re: What does rebate means in Education Loan? Benefits in Tax?

Rebate is the amount that the Bank forfeits from the Interest amount if you are not a defaulter in the monthly installments that you have to pay.
There are tax benefits associated with the Educational Loan if the person who is repaying the monthly installments comes under Income Tax then there will be a tax benefit for that person as that amount will be deducted from the Taxable annual income.
Do you have any question? or have anything to say?



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