Tax benifit on home loan & eductaion loan

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  1. jyoti22

    jyoti22 New Member

    I am alraedy availing deduction of Rs. 2 Lacs for interest on home loan u/s 24.
    If I take new loan for education of my daughter, how nuch tax benifit I can avail on payment of interest on eduction loan?
     
  2. Anish Goel

    Anish Goel New Member

    The tax benefit of entire amount of interest paid on the repayment of education loan can be availed in the Income Tax Return
     
  3. Shishir Nayak

    Shishir Nayak Member

    Yes you can avail deduction of interest on education loan u/s 80E and there is no limit for that. But you can avail this deduction only for 8 years including intial year or complete payment of loan which ever is earlier.

    Poins to be noted.
    Loan should be in your name and loan for higher education for you, your spouse and your children.
     
  4. jyoti22

    jyoti22 New Member

    Thanks Mr. Shishir
     
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