Merupulu.com
By Avnish singh
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Education is considered an investment and a necessity for a successful life and career development.
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Education loans can help, but tax benefits for education loans are currently limited to the interest component only.
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Financial experts suggest that tax deductions for the principal repayment of education loans should also be made available.
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The demand for separate tax deduction limits for home loan principal repayment also needs to be addressed.
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The government should increase the current deduction limit under Section 80C and include tax deduction limits for education loan principal repayment in the same section.
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The period for availing tax benefits under Section 80E is currently capped at 8 years.