Children Education Allowance

This query is : Resolved

Ravi Kiran (Querist)
Follow

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

Amit Sharma

Amit Sharma (Expert)
Follow

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.

Shekar

Shekar (Expert)
Follow

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..

R.V.RAO

R.V.RAO (Expert)
Follow

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

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now