CA.Karthikeyan G (M.Com) (201 Points)

04 July 2012  



In Sec 10(14) rule 2BB Specified that Children education allowance and Hostel Expenditure allowance is exempted upto a maximum of Two Children.My doubt is broken into the following situations :

In first time 1 Child born

After a gap of years twins born

Then in above situation will income tax give exemption to all the three childs ?