Children Education Allowance

This query is : Resolved 
 

(Querist)
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



You need to be the querist or approved CAclub expert to take part in this query .


Click here to login now



Similar Resolved Queries :






× Online Coaching My Enrolled Courses
Articles Forum News Experts Exams Share Files Income Tax Accounts Career Corporate Law Service Tax Video Judgements Rewards Top Members Events Albums Find Friends Featured Feed Scorecard Bookmarks Mock Test Poll Notification Knowledge Finder Coaching Institutes Trainee Corner Jobs
close x
  SHARE THIS