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Children Education Allowance (Income Tax)

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This query is : Resolved


( Author )
19 May 2008

Dear Sir,

One of the Head in our Salary Component is Children Education Allowance can we claim Exemption of Children Education Allowance U/S 10(14) and as well as Deduction of Children Education U/S80 C both at time

Please Suggest

Regards

Ravi Konda


Amit Sharma

( Expert )
19 May 2008

Dear Ravi,

Yes you can upto a max of Rs.100/- per month upto a max of 2 children.

Upto a max of Rs.300/- per month upto a max of 2 children if the children are staying in a hostel.

Hope your doubt is clear.


Shekar

( Expert )
19 May 2008

Hi Ravi..

Children Education Allownace is exempt upto Rs.100 per month per child for maximum of 2 Children..i.e if u have 1 child and u recieve Rs.200 as CEA..Then 100*1*12=1200 would be exempt and balance Rs.1200 is taxable...

Regarding 80C..U can get deduction for Tution fees paid for full time education in India..

U can claim both at a time..


R.V.RAO

( Expert )
19 May 2008

DEDUCTIONS UNDER SEC 10(14) AND
SEC 80 C .THESE TWO DEDUCTIONS ARE DIFFERENT.
SEC 10 (14) ALLOWS RS 100 PER MONTH PER CHILD FOR MAX. OF TWO CHILDREN.
80 C ALLOWS TUTION FEES PAID AS DEDUCTION UPTO RS ONE LAKH PER ANNUM (MAXIMUM DEDUCTION CLUBBED WITH ALL 80 C DEDUCTIONS).
R.V.RAO


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