Schedule 80E – Interest on Loan Taken for Higher Education AY 2026-27
‘Schedule 80E’ in the Income Tax Return is used to claim deduction for interest paid on education loans under section 80E. It requires the assessee to provide details such as the name of the lender (bank, financial institution, or approved entity), loan account number, date of sanction, total loan amount, outstanding loan as on the last day of the financial year, and the interest paid during the year towards higher education loan.
- Section 80Eof Income-tax Act, 1961
An individual is allowed to claim a deduction under Section 80E in respect of interest paid on education loan taken for the higher education of himself or his relative. The deduction is available for 8 assessment years commencing from the assessment year in which the assessee starts paying the interest on a loan.
This schedule applies to ITR-1 and ITR-4