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If tution fees of employee children is reimbursed by employer
if tution fees of employee children is reimbursed by employer then what is tax treatment in hand of employee and can claim deduction u/s 80c
Replies (14)
How much amount is reimbursed
yes it is comes under 80c for two children
yes it is comes under 80c for two children
27000
Tution fees is exempt @ 100 rupees per month for two children and 300 rupees per month for hostel activities
u/s 80C
u/s 80C
1200 exemt is i m understand my question is 27000 what hi get from institute in these year is come to taxable income or exempt
1200 will be deducted from 27000 rupees
Tution fees is eligible under 80C. However reimbursement from employer company is part of taxable salary meaning Education Allowance .
Education allowance is deductible to the extent exempt.
Education allowance is deductible to the extent exempt.
Its means 27000 is income of these year
Net effect is nil as one place it is part of income and at another place it is part of deduction.
Its means taxable and other part of 80C 27000 is examt up to 150000
You add it and deducut it
just like interest upto 10000 extemption
we add it and deducut it
same way add it and deducut it
just like interest upto 10000 extemption
we add it and deducut it
same way add it and deducut it
Chapter VI A deductions will only be allowed if the expenditure was made out of assesee hands!
Since employer paid for the expense he cannot claim it under 80C
More over this will not be taxed under employee hands as the perquisite is monetory and it is not allowed under PGBP for the employer, since it is already taxed under employer, tax free in ee hands
Exemption for Children’s education and Hostel Expenditure
Following exemption* is provided to an individual employed in India:
Children’s Education Allowance: INR 100 per month per child up to a maximum of 2 children.
Hostel Expenditure Allowance: INR 300 per month per child up to a maximum of 2 children.
Following exemption* is provided to an individual employed in India:
Children’s Education Allowance: INR 100 per month per child up to a maximum of 2 children.
Hostel Expenditure Allowance: INR 300 per month per child up to a maximum of 2 children.
Not about to 100 and 300 thats is ok i understand my question is not that about
Upto the above limit will allowed as exemption and remaining amount will added in salary of employee
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