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of <h1>Central Government Recognizes Credila Financial Services as Financial Institution for Section 80E Tax Deductions on Education Loans</h1> The Central Government, under clause (b) of sub-section (3) of section 80E of the Income Tax Act, 1961, designates 'Credila Financial Services Private Limited' as a recognized 'Financial Institution' for the purpose of Section 80E. This designation allows individuals to claim deductions on interest paid on loans taken for higher education from this institution. The notification, numbered 79/2010 and dated October 13, 2010, formalizes this recognition, thereby enabling tax benefits for eligible borrowers.
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