HDFC procures financial institution status
By Our Banking Bureau | 26 Jun 2002
As per section 80E, a maximum amount of Rs 40,000 can be claimed as deduction under this section in computing the total income of an assessee in a particular year.
This deduction is allowed in computing the total income in respect of the initial assessment year and seven assessment years succeeding the initial assessment year or until the loan along with interest is paid by the assessee in full, whichever is earlier.