I have taken an education loan for a full time management course. I am pursuing the course in U.S. and have taken the loan from a multinational financial institution in U.S. I will be repaying the loan in USD to this institution. Can I claim income tax benefits on the interest paid?
Re: Education loan from a financial institution outside India
by SK AGGARWAL on Jan 25, 2011 09:20 AM
Education Loans taken in India are eligible whether for studies in India or abroad. Your case does not fit in for eligibility for deduction under 80 E.
Re: Tax rebate on education loan
by SK AGGARWAL on Jan 25, 2011 09:26 AM
Anyone only,whether U or daughter, can claim deduction only for interest debited by bank/FI for the education loan. Deduction can be claimed only if it is repaid also.
