TUTION FEES CLAIM

Save Share

This query is : Resolved

alnasir (Querist)
Follow

08 February 2011 I HAD PAID RS.30000 TOWARDS SCHOOL FEES OF MY TWO CHILDREN IN THE YEAR OF 2010-2011 AND RECEIVED RS.22800 FROM MY EMPLOYEER AS A CHILDREN EDUCATION ALLOWANCE AND TUTION FEE REIMBURSEMENT.MY SAVING UNDER SECTION 80C IS RS.80000 HOW CAN I SAW THIS MATTER IN MY INCOME STATEMENT ? KINDLY GUIDE PLEASE.
CAN I GET REBATE 1 LAC U/S.80C?
HAVE I SHOW THE REIMBURSEMENT FROM MY EMPLOYER AS A INCOME ?
CAN I CLAIME TUTION FEES AMT. RS.2400 DEDUCT FROM GROSS INCOME AS A CHILDREN EDUCATION ALLOWANCE?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
Follow

08 February 2011 Children Education Allowance :
Out of it you can claim Rs. 2400/-
Balance 20400/ will be added as Taxable education Allowance
*
Out of 30000/ paid you can claim Tuition Fee
which is mentioned in the receipt itself, or may be known from the school authorities.

alnasir

alnasir (Querist)
Follow

08 February 2011 Thank U so much for quick reply.
I am till confusing about my 80C total amount which will be deducted from gross income. Whether it is 80000/-, 1lac or 87200, kindly guide me with proper explaination please.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
Follow

09 February 2011 U/s 80C you will get deduction of Rs 1.00lac
This includes Premium on Life Insurance policies, NSC, PPF, PF, Tuition Fee, Housing Loan Repayment, Tax saving FDR's of 5 years, and many more.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now