Elan Overseas Education Loan

    The students who aspire to study abroad more or less face difficulty in financial help. Education loan to pursue higher education is one of the main means, whereas dome receive funds from their parents and relatives too. By applying some interest on the principal amount various banks and NBFC’s sanction foreign education loans.  Although taking a loan is atleast a liability for 15 to 20 years, there definitely is a great news for all students and education loan-seekers because the interest paid falls under ‘Deductions’ on the Income Tax returns. You don’t need to pay tax on the interest payment made towards education loans under the Chapter VI-A of Section 80E. Education Loans and Section 80E A lot of tax can be saved through your payment of higher education. If one is a legal tax payer then the person’s spouse, children or parents can claim the Income Tax deduction on educational loans taken for higher studies for paying the interest on your education loan.   In the previous days,