shwetha (CWA learner) (447 Points)
18 October 2011Hi
I read that For children educational allowance exception is given for two children only. Which is least of the following two amts.
1. Actual amount received.
2.100 P. M. per child.
Now my doubt is ..... total deduction is 2400. So a person spent 2400 rupees on one child is the total amt. is deductable or only 1200 rupees is deductabnle.
Rahul Gupta
(Chartered Accountant)
(644 Points)
Replied 18 October 2011
Rs. 1200/- is deductible for 1 child.
moreover you can't claim the deduction for more than 2 childs
CA VISHAL RANA,CS,B.Com,AMFI
(Chartered Accountant in Whole Time Practice)
(4354 Points)
Replied 18 October 2011
YES RS. 1200 DEDUCTABLE ONLY FOR 1 CHILD ....AND RS. 2400 FOR TWO CHILD
nikhil
(CA)
(77 Points)
Replied 19 October 2011
actual amount spent has no regard with the deduction.................
if you have two children then you will get deduction of 2400........
Vinod
(CA in Practice)
(445 Points)
Replied 21 October 2011
This is not a deduction.. it is the income exempted..
If you have two children, you can claim @ Rs. 100/- per month per child for 2 children as exempted income (ie. Rs. 2,400/-).
Balance amount whatever received is taxable...
Gouri Shankar Pradhan
(Paid staff)
(21 Points)
Replied 22 October 2011
Rs. 100/- p.m per child maximum of two child.
Actual amount received or Rs. 100 per month per child maximum of two child will br exempted.
If two or more child the limit for the year Rs.2,400
otherwise it will be Rs 1,200 or actual amount received from the employer whichever is lower.
Yamini
(CA)
(247 Points)
Replied 24 October 2011
i would like to correct my words.
rs 1200 will be exempted(not deducted)..
deduction and exempton have different meaning..
B.C.Sekar
(S.O)
(30 Points)
Replied 08 February 2012
Anybody kindly inform me about the G.O. which gives the Rs.100/-/month/child as the I.T. exemption for the CEA which we get for our school-going-children. Because my Accounts Officer is not accepting this facility. He is telling me that it does not exist. He is asking me to bring a latest G.O. in this regard. Kindly help me. Thanks.
--B.CHANDRASEKAR, Kalpakkam, Tamilnadu.
E-mail: bcskal @ rediffmail.com
Cell:94446-64552
CAclubindia
