Gazette Notification

Benefit under Section 129 of the Income Tax Act, 2025

(erstwhile Section 80E of the Income Tax Act, 1961)

Deduction under Section 129 of the Income Tax Act, 2025

In respect of the interest payable on a loan availed for higher education, the Financial Institution is notified for the purpose of Section 129(3)(b) of the Income Tax Act, 2025 [erstwhile Section 80E(3)(b) of the Income Tax Act, 1961].

Notification No. 79/2010[F.No.178/49/2008-ITA-I], dated 13-10-2010.


In exercise of the powers conferred by Clause (b) of Sub-section (3) of Section 80E of the Income Tax Act, 1961 (43 of 1961), the Central Government hereby specifies Credila Financial Services Limited, B 301, Citi Point, Andheri- Kurla Road, Andheri (East), Mumbai - 400 059 as a 'Financial Institution' for the purpose of Section 80E of the said Act.

Note: Section 536(2)(j) of the Income Tax Act, 2025 is a crucial Savings and Repeal provision. It ensures that all prior approvals, circulars, and registrations issued under the old Income Tax Act of 1961 remain valid, meaning taxpayers do not have to re-apply under the new law.

Section 536 of the Income Tax Act, 2025 – Repeals and savings

536(2)(j) – any agreement entered into, appointment made, approval given, recognition granted, circular, direction, instruction, notification, order or rule or any scheme framed therein issued under any provision of the repealed Income-tax Act shall, so far as it is not inconsistent with the corresponding provisions of this Act, be deemed to have been entered into, made, granted, given or issued under the corresponding provision of this Act and shall continue in force accordingly;