Tuition fee exemption in income tax
This query is : Resolved
Rajeev Kumar
(Querist)
05 April 2018
Hi,
One of our Employee submitted his child's Tuition Fee Receipts to get the exemption for Income Tax
This payment was made on October 9, 2017 by cheque for the academic session of 2018-19 and School will be issued the Tuition Fee paid certificate for the F.Y. 2018-19
Please let me know this payment consider for Income Tax exemption for Financial Year 2017-18 or 2018-19?
Best Regards,
Raj
One of our Employee submitted his child's Tuition Fee Receipts to get the exemption for Income Tax
This payment was made on October 9, 2017 by cheque for the academic session of 2018-19 and School will be issued the Tuition Fee paid certificate for the F.Y. 2018-19
Please let me know this payment consider for Income Tax exemption for Financial Year 2017-18 or 2018-19?
Best Regards,
Raj
CA Rashmi Gandhi
(Expert)
05 April 2018
Deduction for tution receipts available u/s 80C in the year of payment. Here,payment is made in 2017 hence, deduction allowed in F.Y.2017-18
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