WebApr 10, 2024 · 3) If you have just 80C deduction of Rs 1.5 lakh then new tax regime might be better as back-of-the-envelope calculations show that for an individual who just avail a deduction of Rs 1.5 lakh ... WebIf you pay an interest on your education loan, you can get a deduction on tax as per section 80E of the IT Act, 1961. The loan could have been taken to pursue higher education by you, your spouse, your children, or a student who you are a legal guardian of. 19. Deduction on House Rent Paid
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WebOct 5, 2024 · Deduction under Section 80 C for expenses on full time education in India . You can claim a deduction upto Rs. 1.50 lakh every year for tuition fee paid for … WebJan 5, 2024 · The tuition fee deduction from income tax is a provision for claiming a tax deduction for the tuition fees that parents pay to educate their children. Parents can claim up to Rs 1.5 lakh for a tax deduction. ... Interest payable on a home loan; All deductions specified under Chapter VI-A; ... In India, the average cost of education is about Rs ... charlestron girls hockey league tournamenbt
Tax Exemption on Education Loan: Who is eligible to claim tax …
WebNov 28, 2024 · 2. Only the interest paid on an education loan is eligible for the Section 80E Income Tax Deduction. 3. This deduction is available to both parents and children. This means that the individual repaying the education loan, whether a kid or a parent, is eligible for the deduction. 4. WebFeb 3, 2024 · Standard deduction This deduction is available only to those taxpayers who have earned income under the head 'Income from salaries' during the relevant financial year. Thus, salaried individuals and … WebMar 27, 2024 · Three things to know before claiming tax benefit on education loan repayments Mint Save 50%* on select plans Gainers & Losers Wed Mar 22 2024 09:29:41 Top Gainers Top Losers Mahindra & Mahindra... charles t roebuck