Taxation · Income Tax

Statement 1: A taxpayer can claim a deduction for interest on an education loan under Section 80E for a maximum of 8 assessment years or until the interest is paid in full, whichever is earlier, with no upper monetary limit on the amount of interest that can be deducted. Statement 2: The education loan must be taken from a recognized financial institution or an approved charitable institution for the higher education of the taxpayer, their spouse, their children, or any student for whom the taxpayer is a legal guardian. Statement 3: Higher education under Section 80E is strictly defined as post-graduate studies in the fields of medicine, engineering, or management, and does not include any vocational training or undergraduate degrees obtained from universities located outside of India. Which of the following statements are correct?