UNDER SECTION 80C
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 March 2010
IS THERE ANY LIMIT FOR TUITION FEES UNDER SECTION 80C
11 March 2010
Section 80C reads as follows:
(1) In computing the total income of an assessee, being an individual or a Hindu undivided family, there shall be deducted, in accordance with and subject to the provisions of this section, the whole of the amount paid or deposited in the previous year, being the aggregate of the sums referred to in sub-section (2), as does not exceed one lakh rupees.
In view of the above, it is clear that there is no specific limit for tution fees or other deductions as prescribed under Section 80C.
Maximum deduction available under Section 80C would be Rs.100000
Hope the above clarifies the query
(1) In computing the total income of an assessee, being an individual or a Hindu undivided family, there shall be deducted, in accordance with and subject to the provisions of this section, the whole of the amount paid or deposited in the previous year, being the aggregate of the sums referred to in sub-section (2), as does not exceed one lakh rupees.
In view of the above, it is clear that there is no specific limit for tution fees or other deductions as prescribed under Section 80C.
Maximum deduction available under Section 80C would be Rs.100000
Hope the above clarifies the query
11 March 2010
AGREE WITH EXPERT.
CMA Ramesh Krishnan
(Expert)
13 March 2010
Maximum Rs.100000/- & Subject to maxi 2 chlidren
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