What is section 80E of income tax act, here know how you can save tax under it
Zee Business Video Team | Updated: June 18, 2022 03:00 PM IST
What is Income Tax Section 80E: Individuals availing education loans for self, children, spouse, or children under guardianship are eligible to claim tax deductions under Section 80E of the Income Tax Act. This deduction is available on the interest component of the loan and has no upper limit. However, the deduction is available for only eight years from the day of the commencement of EMIs. Therefore, borrowers should try to repay their loan within 8 years to maximise tax benefits.
