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Section 80E

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Deductions under Section 80: A Pathway to Tax Savings for Individuals and Businesses

Income Tax : The Income Tax Act's Section 80, which gives taxpayers several deductions to lower their taxable income, is one of its most import...

April 15, 2024 12621 Views 0 comment Print

Tax Saving through Educational Loan – Section 80E

Income Tax : This article delves into the provisions of Section 80E, highlighting its benefits and clarifying common queries related to educati...

January 18, 2024 1254 Views 2 comments Print

Income Tax benefits on interest on education loan

Income Tax : Learn all about income tax benefits on interest on education loans under Section 80E with our overview of eligibility criteria and...

November 30, 2023 3258 Views 0 comment Print

Section 80EE: Income Tax Deduction for Interest on Home Loan

Income Tax : Article delve into the details of Section 80EE, its eligibility criteria, and how to claim the deduction while optimizing your inc...

May 29, 2023 61122 Views 2 comments Print

What are the deductions allowed under Chapter (VIA) of Income tax Act, 1961

Income Tax : Discover key deductions under Chapter VIA of the Income Tax Act, 1961, including Section 80C, 80D, and 80G. Learn how to optimize ...

April 19, 2023 11847 Views 1 comment Print

Latest Judiciary

Deduction u/s 36(1)(vii) eligible on interest on loans given for residential purpose for period less than 5 years: ITAT Mumbai

Income Tax : ITAT Mumbai held that income by way of interest on loans given for residential purposes for period less than 5 years is eligible f...

March 23, 2024 657 Views 0 comment Print

Assessee needs to discharge initial onus in case of Commission to Related Party

Income Tax : LOAN AND ADVANCES –Interest free funds available with the assessee is in excess of amount advanced to sister concern. There is n...

January 17, 2018 2280 Views 0 comment Print

Latest Notifications

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

Income Tax : Notification No. 79/2010-Income Tax Section 80E of the Income-tax Act, 1961- Deduction - In respect of interest on loan taken for ...

October 13, 2010 2853 Views 0 comment Print

Deduction under section 80E of Income Tax Act

September 23, 2019 25305 Views 0 comment Print

Education plays an essential role in the overall development of any country. In order to promote education, interest paid on an educational loan is allowed as a deduction under section 80E of the Income Tax Act. Provisions of section 80E are explained in the present article, along with the Frequently Asked Question. Deduction under section 80E – […]

General Exemptions & Deductions for Salaried employees

July 1, 2019 26544 Views 6 comments Print

General Exemptions & Deductions available for salaried employees for FY 2018-19 i.e. AY 2019-20 includes House Rent Allowance, Interest on Home Loan, Standard Deduction and Chapter VI-A deductions which includes- Section 80C, Section 80CCC – Pension Funds, Section 80CCD – National Pension Scheme (NPS), Section 80CCE, Section 80D – Medical Insurance, Section 80DD – Maintenance […]

Tax benefits for education

December 15, 2018 5748 Views 3 comments Print

In order to promote education, the government provides certain relief to the individual tax payers in respect of certain expenses incurred by them for education.  Let us discuss these tax benefits. Tax benefits on Tuition fee for children You can claim deduction upto Rs. 1.50 lakh every year for tuition fee paid for full time […]

School reopens! Unresolved questions of its Fees in Income Tax

August 4, 2018 5631 Views 0 comment Print

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

Tips to save Income tax for Salaried Person

July 13, 2018 377578 Views 74 comments Print

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.

Section 80E -Tax Concession on Education Loan

July 12, 2018 28031 Views 19 comments Print

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 higher education or for the purpose of higher education of his relative.

Deduction we use to forget while computing taxable income

July 1, 2018 44869 Views 17 comments Print

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 be allowed a deduction to the extent of Rs 50,000. However, if the dependent is suffering from severe disability, a deduction of Rs 75,000 will be allowed.

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

July 1, 2018 3946 Views 2 comments Print

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.

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

June 29, 2018 126901 Views 49 comments Print

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 entire interest amount from your taxable income. However there is no benefit available on the repayment of principal amount of the loan.

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

June 27, 2018 294567 Views 94 comments Print

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 pension.