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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Amendment to Section 80E: Tax Deductions Now Cover Interest on Loans for Relatives' Higher Education, New Approval Criteria Added.</h1> Section 80E of the Income-tax Act was amended effective April 1, 2008, by the Finance Act, 2007. The amendment allows tax deductions for interest on loans taken for the higher education of the taxpayer's relatives, in addition to their own higher education. It also changes the approval requirement for educational institutions from being 'notified by the Central Government' to being 'approved by the prescribed authority.' Furthermore, a new definition of 'relative' is added, specifying it includes the taxpayer's spouse and children.
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