What are the tax implications of a student loan?

In India, student loan interest payments are eligible for tax deduction under Section 80E of the Income Tax Act. The entire interest paid during the financial year can be claimed as a deduction from your taxable income. There is no limit on the amount that can be claimed as a deduction, and this deduction is available for up to 8 years from the start of loan repayment or until the interest is fully paid, whichever is earlier.

However, the loan amount or the principal repayment amount is not eligible for any tax deductions or exemptions under the Indian Income Tax Act.