Tax saving
This query is : Resolved
18 August 2011
SIR
OUR FIRM IS AN EDUCATIONAL INSTITUTION, WE ARE PAYING CHILDREN EDUCATIONAL ALLOWANCE ON ON THE BASIS OF REIMBURSEMENT BASIS,AN EMPLOYEE RECEIVED RS 24000 AS CHILDREN EDUCATION ALLOWANCE,HE CAN GET EXEMPTION U/S 10(RS 100 PER CHILD)SO EXEMPTION AMOUNT IS RS 2400,THIS EMPLOYEE IS ALSO CLAIMING 24000 AS TUITION FEE U/S 80C(AS DEDUCTION) WHETHER THIS IS TWO BENEFIT IS ALLOWABLE UNDER INCOME TAX ACT
OUR FIRM IS AN EDUCATIONAL INSTITUTION, WE ARE PAYING CHILDREN EDUCATIONAL ALLOWANCE ON ON THE BASIS OF REIMBURSEMENT BASIS,AN EMPLOYEE RECEIVED RS 24000 AS CHILDREN EDUCATION ALLOWANCE,HE CAN GET EXEMPTION U/S 10(RS 100 PER CHILD)SO EXEMPTION AMOUNT IS RS 2400,THIS EMPLOYEE IS ALSO CLAIMING 24000 AS TUITION FEE U/S 80C(AS DEDUCTION) WHETHER THIS IS TWO BENEFIT IS ALLOWABLE UNDER INCOME TAX ACT
18 August 2011
Children eduction allowance is exempted as 100 per child per month which can be claim & this available based on the allowance and proof of children education
But section 80C allows the tuition fees paid for children education on submission of fee receipts
First is exemption and second is deduction, both can be claimed by the Individual assessee not restriction in the act for claim both together
But section 80C allows the tuition fees paid for children education on submission of fee receipts
First is exemption and second is deduction, both can be claimed by the Individual assessee not restriction in the act for claim both together
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