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Regarding 80 c

This query is : Resolved 

04 August 2014 my insc premium is rs 28 k and i pay rs 74k as annual school fee of my child can i claim same u/s 80 c in ITR 4 for AY 2014-15

04 August 2014 If you have actually paid LIC premium and Tuition fee in FY 2013-14, then you can claim.

In case of School Fee, only tuition fee is allowed, development/transport fee are not allowed.

04 August 2014 Yes you can claim in ITR4 but maximum limit of Deduction u/s 80C for Financial Year 2013-14 i.e., Assessment Year 2014-15 is Rs 1 Lac.

04 August 2014 Yes u can claim both u/s 80C, upto Rs 1L for the respective AY.

07 August 2014 you can claim for F Y 2013-14 Rs. one lacs u/s 80C. but you cannot claim premium upto 10% of the sum assured. and tution fee u./s 80C

07 August 2014 Agreed with above replies.........................


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