WebJun 26, 2024 · Interest on educational loan should have been paid for the loan taken for the purpose of pursuing his higher education or of the spouse and children. From A.Y. 2010-11 Relative also includes student for whom the individual is the legal guardian. 7. Deduction period of Section 80E Deduction: – Deduction shall be allowed in computing the total ... WebSep 30, 2024 · Section 80E of the Income Tax Act, 1961 provides for a tax deduction against the repayment of interest on education loan. Further, only the interest amount paid in an EMI is available as a deduction. The repayment of the principal amount does not qualify for deduction under section 80E. Moreover, there is no upper limit of deduction available.
Opting for new tax regime? Here are a few deductions you can and …
WebIf you find this video helpful then do LIKE, COMMENT and SHARE it with your friends and don't forget to SUBSCRIBE the channel and press the Bell Icon for fut... WebIncome earned in the way of interest on properties or other securities. Section 80 QQB of the Income Tax Act allows Indian authors to claim tax deductions on royalties earned on the sale of books. Only Indian authors are eligible to claim this deduction, and the maximum amount that can be claimed is Rs. 3 Lakhs. discount igloo dog houses
Senior Citizens and Super Senior Citizens for AY 2024-2024 Income Tax …
WebAny individual who has applied for a loan for higher education can avail the benefits of tax saving provided by Section 80E of the Income Tax Act, 1961. Even if an individual has availed the maximum available deduction of INR. 1,50,000 under section 80C, they can still avail deduction under Section 80E. Note: Section 80C provides for deduction ... WebSection 80C of the Income Tax Act allows for deduction on investments made in particular instruments. Two of the more popular ones are Tax Saving Mutual Funds and Tax Saving Fixed Deposits. Tax Saving Mutual Funds are equity-oriented; that is, at least 65% of their corpus should be invested in equities. Equity Linked Savings Scheme (ELSS) comes ... WebFile Income Tax Returns online with ClearTax. ClearTax is fast, safe and very easy to use. Save money. ClearTax handles all cases of Income from Salary, Interest Income, Capital … fourth london