Spend On Your Children and Get Tax Benefits
1. Education Loan
Education is the basic necessity in everyone’s life. There are number of benefits one gets from education, but the most important part is to gain knowledge.
As education has become very expensive today, it is very essential to plan out well for your child’s higher education.
Taking education loan is the best way to fund your child’s education, as the interest you pay on the loan is fully tax deductible under Section 80E of the Income Tax Act.
This loan can be taken from any recognized financial institutions by the borrower, parents or spouse of the student. Such kind of a loan is given on full time graduate courses that include engineering, medicine, management or any post graduate courses.
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