Can I claim tax benefits for the interest paid on an education loan?

Yes, you can claim tax benefits on the interest paid for an education loan under Section 80E of the Income Tax Act, 1961 in India. This deduction is available to individuals who have taken an education loan for higher studies (whether in India or outside India) for themselves, their spouse, or children. There is no limit on the amount that can be claimed as a deduction, and it can be claimed for a maximum of eight consecutive years. Ensure you have the interest certificate from the lending institution as proof when filing your taxes.​