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Deductions

This query is : Resolved 

31 January 2011 Dear Sir,

Please let me know the calculations and elegibility for Income Tax Purpose from following heads.

1. Medical Reimbursement
Will medical bills or medical expenditure incurred for self or dependants allowed for Income Tax benefit.

2. Tution Fees
to what extent tutions fees allowed for income tax benefit.

Please do revert.

Prashant

31 January 2011 1. Reimbursement for treatment of the employee and his/her family members are eligible vide 1st proviso to section 17(2) of the IT Act,1961.
2. Children's tuition fee paid to educational institutions situated in India qualifies for deduction up to Rs. 1 lakhs per annum, provided the assessee has no other qualified investments covered in section 80 C of the said act.


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