Applicability of Sec. 80E for the prescribed studies in a foreign country

[B Tayub]

Whether the benefits of Sec. 80E are available for the prescribed studies in a foreign country?

AI Summary

Section 80E Tax Deduction Covers Interest on Loans for Higher Education Abroad, Including Engineering and Medicine. A query was raised about the applicability of Section 80E of the Income Tax Act for studies pursued in a foreign country. One respondent explained that Section 80E allows for a deduction on interest paid on loans taken for higher education, which includes full-time graduate or post-graduate courses in engineering, medicine, management, or applied and pure sciences. Another respondent confirmed that the section aims to provide tax exemptions to individuals pursuing prescribed higher education, implying its applicability to foreign studies as well.