Deduction for educational expenses
This query is : Resolved
Dr.Ramesh R.Patel
(Querist)
27 March 2009
Sir,
I am a Surgeon, Me and my wife both are incometax payers. My daughter is in MBBS. Her annual fees is Rs.3.25 Lac. Under 80C there is rebate of Rs.1 lac for investment or educational expences. My quetion is can both the parents share the feees paid and cliam rebate of Rs.1 lac each for both ?
Please kindly answer urgently as fees are to be paid by 31st of March.
Thanking You
Dr.Ramesh Patel
I am a Surgeon, Me and my wife both are incometax payers. My daughter is in MBBS. Her annual fees is Rs.3.25 Lac. Under 80C there is rebate of Rs.1 lac for investment or educational expences. My quetion is can both the parents share the feees paid and cliam rebate of Rs.1 lac each for both ?
Please kindly answer urgently as fees are to be paid by 31st of March.
Thanking You
Dr.Ramesh Patel
Taranjit Singh
(Expert)
27 March 2009
Under section 80C, sum allowed as deduction
is TUTION FEES excluding any payment towards development fees or donation or payment of similar nature. So first you have to check that how much amount is paid as tution fees.
Second point is that it will be allowed to an individual who has paid this fees.
is TUTION FEES excluding any payment towards development fees or donation or payment of similar nature. So first you have to check that how much amount is paid as tution fees.
Second point is that it will be allowed to an individual who has paid this fees.
CA J M Pattanayak
(Expert)
27 March 2009
To add on - And the maximum amount claim is restricted to 100,000 either jointly or individually.
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