Tax Benefits on Education Loan

Section 80E of the Income Tax Act offers tax deductions on the amount of interest paid towards education loans.

This section is applicable for all kinds of education loans, such as those taken for higher education, professional courses, and even vocational courses.

there is no cap on the interest rate which qualifies to be deducted.

The income tax benefit can be claimed in the year in which you paid the principal amount as well as interest component.