md gulpham (Manager) (57 Points)
11 August 2016As per Income tax rule we get Partly Exemption on Child Education Allowance i.e. Rs. 100/month/child for two children, but how some body claims Rs. 1000/- or more what ever they paid for education fees. Now I want to know is their any else provision or rule for this ?
CA Saurabh Singh
(Practising Chartered )
(974 Points)
Replied 11 August 2016
Hello Sir,
Children education allowance is exempt upto maximum of 2 child and is 100 per child per month, means in a year you will get:
100*2*12= Rs.2400
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(162714 Points)
Replied 11 August 2016
Under section 80C of IT act Deduction under this section is available for tuition fees paid on two children’s education, subject to maximum limit of 1.50 Lakhs along with other deductions under 80C
md gulpham
(Manager)
(57 Points)
Replied 11 August 2016
Sir,
But their limitiation is given i.e. Rs. 100/month/child, If our tution fees is near about 15000 p.a. and after adding this amount my total investment under 80C Rs. 1,30,000/- approx. then can I get this whole exemption from tax.
md gulpham
(Manager)
(57 Points)
Replied 11 August 2016
Hi Sir,
If I actul Child education fee paying Rs. 15000 p.a. for my single child then I will get exemption only Rs. 2400/- ?
CA Saurabh Singh
(Practising Chartered )
(974 Points)
Replied 11 August 2016
Yes, if you receive any amount as allowance for education of children you can claim the same from your salary,
And apart from this tutuion fees paid by you shall be allowed as deduction under section 80C.
Please note you cannot take the benefit of same under two different heads
varun
(student)
(49 Points)
Replied 11 August 2016
IF YOU ARE RECEIVING CEA FROM YOUR EMPLOYER, THAT ALLOWANCE WILL BE EXEMPT UPTO 100 P.M. FOR MAXIMUM TWO CHILDREN. BUT TUITION FEE PAID BY YOU WILL BE EXEMPT UPTO 150000.P.A.
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