ITR4 Filing

Dear  CA 

Iam filing my ITR 4 as a Freelancer ( Contractor/Interior Designer/Tech Consultancy)  for past few years . My gross yearly income  is  50 lakhs  and paying nearly 30,00,000 ( Thirty Lakhs INR  ) as tuition fee for my two sons. While filing tax returns Can I claim tax exemptions for the tution fee ? 

Please advise 

Thankyou 

Ravvin

 

 

Replies (5)
Quick Summary
This discussion addresses whether tuition fees paid for children can be claimed as a tax exemption when filing an ITR 4, particularly for freelancers with a gross income of 50 lakhs. While tuition fees are generally not directly deductible, the conversation clarifies that deductions are limited under Section 80C to Rs 1.5 lakhs. It also suggests considering the new tax scheme for potentially better outcomes.

Can I claim tax exemptions for the tution fee ?

Yes , You can claim.

Thankyou Sir for reply

You are welcome

the deduction is restricted to 80C ie Rs 1.5 lakhs. What do you gain from it? better to just file ITR-4 and pay tax under new scheme. 

Why itr 4

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