There is a tax benefit in india for the loan taken on higher education. There is a benefit on the interest of banks to get the tax benefit. So if you are going to take a loan on education keep in mind these factors to avail the tax benefits:-
1-These deduction is available only to individual and not for H.U.F.
2-Deduction amount-The deduction amount is only the interest paid on the loan of higher studies and there is no limit. You can get tax benefit on entire amount of interest paid but not the PRINCIPAL.
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