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TDS

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(Querist)
31 December 2009 Dear sir,

Please help me in this regard:

One of my employee (comes under TDS)is pursing his M.Tech and paid fees an amount of Rs.22,000/- is that amount exempt from tax?if so it is inclusive of 1,00,000(80ccc) or apart from 1,00,000 kindly help me

thankyou sir

sincerely

Prabhakar
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CA.SHAHZAD SAYYED

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CA.SHAHZAD SAYYED (Expert)
31 December 2009 Dear
if you have taken loan for higher education then it's interest repayment is covered u/s 80E & does not count for sec 80CCE.(i-e it will apart from Rs.l lac ceiling)
In any other case it will be count u/s 80C & hence added while calculating total deduction u/s 80CCE
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
31 December 2009 The interest on Higher education covered under 80E so it is not covered under 80C

Other than interest you can cover 80C
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Murtaza I Bhagat

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Murtaza I Bhagat (Expert)
01 January 2010 agree
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