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It would be expensive to pursue higher education, especially in professional courses like MBA, Medicine, Engineering, and others. As inflation increases in the sector, it gets more and more expensive. In this way, it becomes more difficult for parents in the middle and lower income groups to pay for their children's abroad education until they receive a scholarship. Therefore, tax experts mentioned user section 80E of the IT Act. This act allows education loan borrowers to claim interest paid on education loans as a deduction. In this article, we have described a complete overview of tax deductions under section 80E for education loans.
