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
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.
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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Itr 1 processing
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- Share accounting-->fifo - capital gain - period as per fifo?
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR returnFY25-26
- ITR 1: Details for showing Exempt Income
- ITR selection for salaries and capital gain less than L
- ITR 2 Short Term gain & Long term gain
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Reporting Income under Section 44ADA
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- Tax liability on income of freelancer
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
