Section 80E Income Tax Deduction or Interest on Education Loan

Aryanshah11 May, 2023Finance

According to Section 80E of the Income Tax Act of India, 1961, the interest paid on the education loan is eligible for tax deduction.An education loan can save you a significant amount of tax in addition to helping you pay for your higher studies. The interest on any education loans you have taken out and are currently repaying may be deducted from your gross income under Section 80E if you qualify.