(H) Deduction Of Interest On Loan Çor Higher Studies — Section 80E
Full deduction would be permissible for interest on lon without any upper limit for higher education for eight years. No deduction, is however, available, for repayment of an education loan. The deduction for interest on loan taken for education of spouse or children would also enjoy deduction to the individual tax payer without any upper limit.
Higher education means any course of study pursued after passing the senior secondary examination or equivalent from any school, board or university recognized by the central government or state government or local authority or by any other authority authorised by the central government or state government ot local authority to do so. Now even the student for whom the individual is the legal guardian will also be entitled to the above deduction under Section 80E.
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