Income tax act 1961 section 80c
This query is : Resolved
Sanjay Kumar Garg
(Querist)
13 March 2015
If a person is paying fees to IIMs for PGDM.
Is content of fess attributable to tution fees eligible for deduction u/s 80C
Is content of fess attributable to tution fees eligible for deduction u/s 80C
13 March 2015
yes it is deductible upto 1.5 lakhs
13 March 2015
Only tution fees paid for education of children is eligible for deduction u/s 80C. Maximum deduction available is Rs 1.50 lacs which is the overall limit for deduction u/s 80C. Please go through from article from below link for more clarity.
https://taxguru.in/income-tax/deduction-us-80c-for-tuitionschool-fees-paid-for-education-of-children.html
https://taxguru.in/income-tax/deduction-us-80c-for-tuitionschool-fees-paid-for-education-of-children.html
16 March 2015
tuition fees definition u/s 80C does not exclude specifically that amount paid to iim as fees is debareed from claiming deduciton?
16 March 2015
Where have i said IIM fees is debarred?
IIM Fees include many component and all are not eligible for deduction u/s 80C like, Lodging charges, Development fees etc.
For example check out the fees structure of IIM Raipur from link given below;
https://www.iimraipur.ac.in/admn_pgp_fees.htm
Furthermore, i have already provided a link of an article where all details are given for the help and necessary information of the Shri Sanjay Kumar Garg.
I have just given some more clarity on the issue.
So where is the problem?
IIM Fees include many component and all are not eligible for deduction u/s 80C like, Lodging charges, Development fees etc.
For example check out the fees structure of IIM Raipur from link given below;
https://www.iimraipur.ac.in/admn_pgp_fees.htm
Furthermore, i have already provided a link of an article where all details are given for the help and necessary information of the Shri Sanjay Kumar Garg.
I have just given some more clarity on the issue.
So where is the problem?
17 March 2015
your opening words were " only tuition fees.." which any body will take it your opinion as not allowed in this case....the link which u posted does not say whther iim fees allowed or not allowed specifically...so i guess if u ans in affirmative or negative to query raised will give a clear opinion of yours....so this is where the problem was?
17 March 2015
Please read fully. It is " only tution fees paid for education of children". Further yes only tution fees is allowed other components like lodging, development fees etc is not allowed. Please refer article from link given above. The word used in 80C is tution fees.
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