Hi
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 ?
nice que..
exemption is available to otwo childrens only though they are twins... you will not get exemption for 3 childrens
If twins are second child then exemption for 3 children is allowed. But if first children are twins and thereafter second child is also there then exemption for only 2 children will be allowed. Check ICAI suggested answer for MAY 11 DT Q. 3 (D).
I apologies... later I read and agree with Abhilasha Mam..
CAclubindia
