26 March 2009
hi members warm good morning pls help for my doubt incase i am receiving Rs.3000/-p.a as my education allowance in my company. and also i am paying tution fees for my child Rs.12500/- can i claim both the things as exemption? in case of edu.allow Rs.100/child for 2 children and also entire amount of tution fees in 80c pls help me immediatly thanks & regards kumar mail id: kumar_2628@yahoo.co.in
26 March 2009
Children's education allowance will not form part of income. It is exempt from tax u/s 10. Deduction u/s 80C is available for tution fees to the extent of aggregate limit of Rs. 1.00 Lac.
27 March 2009
U/s 10(14)(ii) in respect of children education allowance deduction is 100 p.m. per child IRRESPECTIVE OF ACTUAL EXPENDITURE. U/S 80C TUTION FEES OF MAX 2 CHILDREN PAID IN INDIA FOR FULL TIME EDUCATION IS EXEMPTED.
THESE TWO HAS GOT NO RELATION , SO YOU CAN CLAIM BOTH OF THEM , SUBJECT TO OTHER REQUIREMENT OF RESPECTIVE SECTION
CAclubindia
