Yes, you can avail of tax benefits on the interest paid for your Tata Capital Personal Loan for Education. Under Section 80E of the Income Tax Act 1961, you are eligible for a yearly deduction of Rs. 40,000 on the repayment of both the interest portion and the principal amount of the EMI.Loans taken for higher education, such as graduation and post-graduation level, are all eligible for tax deduction. However, it’s important to note that these exemptions are available for a period of eight years from the date of the first EMI payment.