Deduction for Education Loan

Created by Bharti Vasvani, Modified on Fri, 25 Oct at 5:32 PM by Bharti Vasvani

An education loan deduction is a tax incentive given to people who avail of loans for higher studies. This deduction is available only on the interest amount paid on the loan and not on the principal amount. Education Loan deduction can be claimed for a maximum of eight years, starting from the year in which interest repayment begins.


The loan should be taken for the higher education of self, spouse, or children or for a student for whom the individual is a legal guardian. 


Steps to Claim Deduction 

  1. Navigate to File > DeductionsNavigate to File > Deductions

  2. Select Section 80E card Select Section 80E card

  3. Enter the interest paid during the yearEnter the interest paid during the year


If you still have any further queries, you can raise a ticket to get in touch with us. 


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