School fees deduction

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 March 2010 Mr X has two companies. One is properitor
firm and sencond is private ltd company.

I want to know following things.

1. Is school fees is allowed as a deduction from GTI in his own return.
2. What if the school fees has been paid by his pvt. ltd. company's bank?

CA SANJAY MUKHERJEE

CA SANJAY MUKHERJEE (Expert)
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16 March 2010 Mr.X can claim deduction under Section 80C for tution fees paid to school for maximum of two child and the maximum amount can be 1 lakh i,e the limit under Section 80C. He should paid the primium from his own Bank Account, if he is the proprietor then paying from propritorship firm is ok.

Message likes : 2 times

CA Ashok Kumar Sahu

CA Ashok Kumar Sahu (Expert)
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16 March 2010 as per my opinion : IF he make payment through his pvt. ltd. co's cheque is also allowed for ded'n if receipt is in the name of mr. X, and co. debit a/c of X.

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