income tax

It is exempt upto Rs. 100 per month per child max for 2 child or actual receipt which ever is less  Sec 10(14)

Children education allowance is exempt for Rs. 100 pm per child for maximum for two children. Children for this purpose is include even adopted & also step children but it will be not include grand children. You may claim exemption for any two children i.e. it is not compulsory that the exemption shall be allowed only for the first two children. If husband & wife both are employee and both is getting children education allowance in that case exemption shall be allowed separately to each one of them.