Mr. Rath borrowed a loan of ₹ 10 lakh for higher education in India in the year 2009-10. He completed the course study in 2012-13. He started repayment of the loan in April 2014. He paid interest of ₹ 41,000 and principal of ₹ 1,20,000 during the financial year 2020-21. The amount eligible for deduction under section 80E would be:

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Question:Mr. Rath borrowed a loan of ₹ 10 lakh for higher education in India in the year 2009-10. He completed the course study in 2012-13. He started repayment of the loan in April 2014. He paid interest of ₹ 41,000 and principal of ₹ 1,20,000 during the financial year 2020-21. The amount eligible for deduction under section 80E would be:

1. ₹ 1,20,000

2. ₹ 1,61,000

3. ₹ 41,000

4.₹ 1,00,000 (monetary limit)

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  1. Mr. Rath borrowed a loan of ₹ 10 lakh for higher education in India in the year 2009-10. He completed the course study in 2012-13. He started repayment of the loan in April 2014. He paid interest of ₹ 41,000 and principal of ₹ 1,20,000 during the financial year 2020-21. The amount eligible for deduction under section 80E would be:
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