Pls refer to section 80E of Income tax, which is about Loan taken on Self Education.
Interest paid on loan taken for self education is exempted upto Rs. 40000/-
Pls go thru the below link for more details.
22nd February 2008 From India, Bangalore
I saw the thread which are some 2 yr old..but I am also in same siuitation.part time exe MBA
would like to know if you are able to figure out if we can claim any exemption..
your early rely will be appriciated..
23rd December 2008 From India, Bangalore
if it is self financed then u will not get any rebate,the section 80E of IT act clearly shows that rebate can be avalied on the intrest paid on loan(in previous year ) taken for higher education.there is no limit regarding amount upto which u can avail benifit, it is limitless,however there is boundation for years upto which u can claim it and ie 7 year.
(for more clarification simply type 80e on the web site of IT Deptt ,u will get to know all the requried detail).
30th January 2009 From India, New Delhi