In a news article published in Dainik Bhaskar, our Associate Partner CA Nikky Jhamtani has written on “Interest on Loan taken for private coaching can be claimed u/s 80E of the Income Tax Act, 1961”
Under Section 80E of the Income-tax Act, 1961, a deduction is allowed in respect of interest on loan taken by an individual for the higher education of himself and his relatives. In this article, along with the discussion on general provisions of Section 80E, the author has also dealt with whether the said deduction shall be allowed in case of a loan taken by an individual for paying fees of private coaching classes taken to pursue higher education.