Children Education Allowance
This query is : Resolved
Ravi Kiran
(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
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.
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.
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..
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..
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
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
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