80C Exemption..

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This query is : Resolved

Umang Saluja (Querist)

31 August 2016 In 80C.. Tution fees of children is exempt.. and tution fees can be either of school or of tution.. my doubt is Tution fees paid to icai for cpt,ipcc,final, iam talking specifically about TUTION FEES.. please tell that can it be included in 80C exemption. ( as there is 1-2k tax and the payer want to reduce it, he paid 12k as tution fees of their children to ICAI )

ACA Anurag

ACA Anurag (Expert)

31 August 2016 Dear umang, Fees paid to icai is registration fees and not tution fees and hence not allowed as deduction. Hope your query is resolved Kindly like if my response has helped you

ACA Anurag

ACA Anurag (Expert)

31 August 2016 Hope your query is resolved

Message likes : 1 times

Umang Saluja

Umang Saluja (Querist)

01 September 2016 @Anurag - I have checked the bifercation of reg fees paid to icai, there is tution fees.. In CPT there out of 6000, full 6000 is tution fees ( check the image that iam sending ) same in ipcc out of 12000, 4-5k is tution fees..

Amol S Joglekar

Amol S Joglekar (Expert)

01 September 2016 basically try to use the word DEDUCTION in place of EXEMPTION.
80 C (xvii) is applicable to university, college, school or other educational institute.
ICAI does NOT fall under any of the 4 above.

ACA Anurag

ACA Anurag (Expert)

01 September 2016 Dear Umang, U cannot take deduction for payment to icai

Ankur Singhal

Ankur Singhal (Expert)

02 September 2016 dear umang you can take deduction of fees paid to ICAI no problem in that. Reason being ca course is

Ankur Singhal

Ankur Singhal (Expert)

02 September 2016 reason being ca is a full time course hence fulfils the conditions of section 80c

ACA Anurag

ACA Anurag (Expert)

02 September 2016 Dear Ankur, Sec 80 c(xvii) allows Deduction of Tution fees only if payment made to a university, college, school or educational institutions. ICAI does not come under any category. hence its not allowed to claim deduction under 80c for payment made to icai we have some clients which claim icai payment as deduction under 80C but in assessment from AO it was disallowed. Hope your query is resolved

Umang Saluja

Umang Saluja (Querist)

02 September 2016 @Anurag : ICAI will not come under category educational institute..??

ACA Anurag

ACA Anurag (Expert)

02 September 2016 Dear umang its not a full time course and it's a professional course.

Amol S Joglekar

Amol S Joglekar (Expert)

05 September 2016 ICAI is not educational institute. It is a governing body, created with the Act of Parliament.

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