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These 9 ways can be tax rebate (9 Things To Know About Tax Benefit On Education Loan)
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If you take an education loan, then you get the benefit of this in tax. Therefore, keep in mind 9 things while filing income tax.


 Education Loan


Recently, the results of the schools-colleges have come out, all the students are taking part in the race for admission Has happened. On the one hand, due to high cut off, admission is not available, on the other hand it is difficult to get admission due to the expensive fees of private institutions. There is a good alternative education loan in front of students and parents who are facing double standards. If you take an education loan, then you get the benefit of it in tax. Therefore, keep in mind five points while filing income tax.


1. If you want to take advantage of an exemption from Income Tax, then keep in mind that the education loan has been taken from a bank or financial institution. [1 9459010] 2. If you have taken education loan for higher education of your spouse or child, then there is a discount in filling income tax.
3. If you have adopted the child and you are his legal guardian. If you have taken an education loan for higher education, you also get a discount on that loan.


 Tax on Education Loan



4. After passing XII or equivalent exam, there is tax rebate on education loan for any course.

5. If you have taken an education loan to do any regular or vacancies, then tax deduction can be claimed on its interest.

Read more: 7 Smart Tips of Tax Savings


6. In a financial year, only on the amount of interest included in the monthly installment of education loan, you will get Income Tax exemption. There is no exemption on repaying the principal of education loan.


 Education Loan



7. There is no limit on income tax on the amount of interest on education loan. For example, if you have taken an education loan of Rs 15 lakh and are paying 2 lakh rupees, then you can claim the exemption of income tax on this 2 lakh rupees.

8. From the year you start paying the education loan bank or financial institution, from that year, you can take advantage of income tax rebate.

9. The most important thing is that education loan should be paid within eight years. If you have already paid the full interest of the loan, then income tax will be exhausted after paying the interest.

Read also: Education Loan: ABC


- Nagendra Sharma


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 Education Loan: These 9 Ways to Get Tax Rebate (9 Things To Know About Tax Benefit On Education Loan

Article Name [19659019] Education Loan: In these 9 ways tax rebate (9 Things To Know About Tax Benefit On Education Loan)

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If you have an education loan Education Loan), then you get the benefit of this in tax. Therefore, keep in mind 9 things while filing Income Tax.

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Meri Saheli Hindi Magazine








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