Raghunath repaid during previous year 2019-2020 education loan of ₹ 60,000 and interest on education loan of ₹ 18,000 taken from Punjab National Bank for his son to pursue MS in Germany. The loan was taken in the financial year 2010-2011 and the payment commenced from financial year 2012-2013. The amount eligible for deduction under section 80E for the assessment year 2020-2021 is:
A. ₹ 60,000
B. ₹ 78,000
C. ₹ 18,000
D. Nil
Answer:C
Raghunath repaid during previous year 2019-2020 education loan of ₹ 60,000 and interest on education loan of ₹ 18,000 taken from Punjab National Bank for his son to pursue MS in Germany. The loan was taken in the financial year 2010-2011 and the payment commenced from financial year 2012-2013. The amount eligible for deduction under section 80E for the assessment year 2020-2021 is:
A. ₹ 60,000 B. ₹ 78,000 C. ₹ 18,000 D. Nil