09 May 2009
tell me about Children education Allowance & Children hostel expenditure Allowance.
i want to know that exempted amount Rs. 100 per child P.M. upto 2 children & 300 per child P.M. upto 2 children is applicable when employee has child or not if employee has not a child than i can take a exemption upto 2 children or not
1. You do not have any child. 2. If you have but he neither goes to a school nor he lives in a hostel.
You may claim exemption only - 1. If he/she goes to school. You can claim only Rs 100/ per month. If you have 3 school going children you can claim max Rs 200/-per month only. For the third child if you want to avail exemption for only Hostel Expenditure Allowance , it will be allowed upto Rs 300/- only. 2. If your 2 children go to school you can claim Rs 200/- and If you have admitted them into a hostel also, (200+300)*2=1000 (this is maximum) It is clear from the above that presently you can take allowance from your employer but you can not take exemption.
CAclubindia
