NEWS & ADVICE : EDUCATION LOANS
Tax concession extended on education loan interest rates
By Neelima Shankar
Apr 13, 2010
Print    Email    RSS   

The Government has extended tax concession on interest charged for education loan. The concession has been extended to all streams of study for which loan has been taken.

Vocational courses are also included in the list. The basic idea behind extending tax concession to all streams is that students from all economic walks of life would be able to reap the benefits of this scheme.

The concession was till now confined only to loans taken for graduate and post graduate courses in streams like medicine, engineering, management and post-graduate courses in applied sciences or pure sciences, including mathematics and statistics.

"The latest amendment in section 80E of the I-T Act will bring all the streams of education (apart from regular ones) and vocational courses under its ambit."

"This will benefit the students who apply for graduate and postgraduate courses in various streams during the upcoming academic session," a senior Finance Ministry official said.

This concession would also be provided to parents who have taken the loan for a child whom they have legally adopted.

 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Credit profile and its effect on loan...
Education Loan for B-Schools
Innovative education loan scheme for IIM...
This is how a bank lends money
Know your Education Loan better


ROPAR: CaℒL Giℛℒ In Kurali 09855660911...
Why Pitampura Tutors (Ph:- 9911742311) & Private...
kala jadu in hindi 9636854282

NEWS THIS WEEK
Banks to look forward to hire students from IIT/IIM Feb 18, 2015
Union Bank of India hiring for the post of specialist officers Feb 16, 2015
Canara bank launched scholarship Scheme Feb 13, 2015
AXIS bank started ‘My idea of progress’ Campaign Feb 12, 2015
RBI inviting applications for the guard post Feb 11, 2015
News Archive