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Business: From Which Year Deduction Of Interest On Educational Loan Begins??

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posted by taxquery 1761 days ago

I have taken a education loan from SBI for my MBA education. The loan amount was close to 3 lacs and the interest to date is 47000. so now the current balance outstanding is Rs. 347000/- ...now the bank has started the repayment of 7458 per month for 60 months . but they say i will get tax benefit for interest starting from month of June 07 only. I want to know if it is possible for me to get tax benefit on the 47000 interest that has already been charged to my account.Chirag Shah Section 80E of the I T Act deals with deduction of interest on education loan. Therefore , let us first read what section says
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