Section 80E

School reopens! Unresolved questions of its Fees in Income Tax

Income Tax - Arjuna (Fictional Character): Krishna, July is here, Schools / colleges soon will reopen. Therefore Parents are busy in their children’s school preparation. Today, tell us in detail about education expenses and provisions relating to it under Income Tax Act...

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Tips to save Income tax for Salaried Person

Income Tax - Often, investment for most individuals begins and ends with tax planning. Although it is pertinent to avail tax breaks, this should not be the sole focus. Start by jotting down your key financial objectives, the tentative time of money requirement and the corpus needed to achieve those goals....

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Section 80E -Tax Concession on Education Loan

Income Tax - Section 80E of the Income Tax Act, 1961 provides for a deduction to an assessee (being an individual), out of his income chargeable to tax, on account of any amount paid by him in the previous year by way of interest on loan taken by him from any financial institution or any approved charitable institution for the purpose of pursing his h...

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Deduction we use to forget while computing taxable income

Income Tax - Deduction for Medical treatment of dependent :- Under Section 80DD of the Act, where an individual has incurred expenditure for the medical treatment, training and rehabilitation of a dependent, being a person with disability or has paid or deposited any amount under prescribed scheme for the maintenance of dependent, such individual will...

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Personal Loan Benefits for Education to Individuals in 30% Tax Bracket

Income Tax - Pursuing higher education is a dream for many. Many people wish to pursue their further education through a masters or a doctorate program. Some may choose to study within the country, while some may enroll at a university outside the country....

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Notification No. 79/2010-Income Tax Dated 13/10/2010

Notification No. 79/2010-Income Tax - (13/10/2010) - Notification No. 79/2010-Income Tax Section 80E of the Income-tax Act, 1961- Deduction - In respect of interest on loan taken for higher education - Financial institution notified for purpose of section 80E(3)(b)...

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Recent Posts in "Section 80E"

School reopens! Unresolved questions of its Fees in Income Tax

Arjuna (Fictional Character): Krishna, July is here, Schools / colleges soon will reopen. Therefore Parents are busy in their children’s school preparation. Today, tell us in detail about education expenses and provisions relating to it under Income Tax Act...

Read More
Posted Under: Income Tax |

Tips to save Income tax for Salaried Person

Often, investment for most individuals begins and ends with tax planning. Although it is pertinent to avail tax breaks, this should not be the sole focus. Start by jotting down your key financial objectives, the tentative time of money requirement and the corpus needed to achieve those goals....

Read More
Posted Under: Income Tax | ,

Section 80E -Tax Concession on Education Loan

Section 80E of the Income Tax Act, 1961 provides for a deduction to an assessee (being an individual), out of his income chargeable to tax, on account of any amount paid by him in the previous year by way of interest on loan taken by him from any financial institution or any approved charitable institution for the purpose of pursing his h...

Read More
Posted Under: Income Tax |

Deduction we use to forget while computing taxable income

Deduction for Medical treatment of dependent :- Under Section 80DD of the Act, where an individual has incurred expenditure for the medical treatment, training and rehabilitation of a dependent, being a person with disability or has paid or deposited any amount under prescribed scheme for the maintenance of dependent, such individual will...

Read More

Personal Loan Benefits for Education to Individuals in 30% Tax Bracket

Pursuing higher education is a dream for many. Many people wish to pursue their further education through a masters or a doctorate program. Some may choose to study within the country, while some may enroll at a university outside the country....

Read More
Posted Under: Income Tax |

Section 80E- Education Loan– The Mantra to Save Tax

The deduction under section 80E is available to an individual if following conditions are satisfied: 1. Deduction available only to Individual not to HUF or other type of Assessee. 2. Deduction amount: – The amount of interest paid is eligible for deduction and moreover there is no cap on the amount to be deducted. You can deduct the en...

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Posted Under: Income Tax |

Deduction on children’s education u/s. 80C & 80E

Articles deal with provisions of deduction Under Section 80C on Tuition Fees Paid for children's education and Under Section 80E on Interest paid on Education loan. The deduction on payments made towards tuition fee can be claimed up to Rs. 1,50,000/- from A.Y. 2015-16, together with deduction in respect of insurance, provident fund and ...

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Posted Under: Income Tax | ,

Section 80E Deduction for Interest on education Loan

Have you taken an education loan to support higher studies of yourself or of your spouse, Children or for the student of whom you are legal guardian and you are not aware of the tax benefits that you are entitled to. Then here is a guide that will assist you to know tax benefits on education loans. These benefits help you to reduce the ov...

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Posted Under: Income Tax |

10 lesser known Income Tax Deductions

We all know about the popularly know deductions like deduction u/s. 80C & 80D. But many times we use to forget to claim many other deductions which are available under the Income Tax Act, which can reduce our tax burden significantly. In this article we discussed 10 such lesser know deductions which taxpayers tend to forget to claim while...

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Posted Under: Income Tax | ,

Tax Planning under section 80C and Section 80E

DEDUCTION U/s 80E -1. Conditions : Applicable to Individuals not to HUF Loan must be taken for Higher studies Loan must have been taken from approved financial and charitable institutions Only Interest is allowed as deduction Deduction is allowed only for 8 years from the date repayment not more than that ...

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Posted Under: Income Tax |

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