CA Balkrishna Shingadi (Partner at Arun & Balkrishna Chartered Accountants) (59 Points)
07 March 2011Hi all,
can any one tell me what is the limit of deduction of school fees available u/s 80c for the A.Y.2010-2011
Pankaj Arora
(Learner)
(3134 Points)
Replied 07 March 2011
Rs.100/- per month for per child Rs.1200/- for year is exempt.
Devendra
(Chartered Accountant)
(4775 Points)
Replied 07 March 2011
Rs. 100 per month per child upto 2 children is exempt from Tax.
Deepak Tapse
(Accounts Manager - Taxation)
(1771 Points)
Replied 07 March 2011
You can claim upto Rs. 1 Lakh (Consolidated- LIC + School Fees, NSC, etc. etc or full schoold fees) u/s 80C
BALASUBRAMANYA B N
(CCI STUDENT....)
(44679 Points)
Replied 07 March 2011
BALASUBRAMANYA B N
(CCI STUDENT....)
(44679 Points)
Replied 07 March 2011
Joey Tribbiani
(fdg)
(2010 Points)
Replied 07 March 2011
| Originally posted by : Devendra | ||
 |
Rs. 100 per month per child upto 2 children is exempt from Tax. |
 |
U r not talking about sec 80C,u r qouting Sec 10(14) under which Rs 100/month exemption is available from education allowance received from the employer. However under section 80C deduction of Rs 1lac(among other expenses) is available to an assessee for amount of tuition fees paid during the previous year...
Mohammad Asif
(chartered accountant)
(191 Points)
Replied 07 March 2011
you can cliam deduction upto Rs.1 lakh for the fees paid during the previous year
DAYANANDA K N
(ACCOUNTS EXCECUTIVE)
(575 Points)
Replied 07 March 2011
You can avail deduction upto Rs.1 lacs.
Regards
Dayananda
SANJAY
(CHARTERED ACCOUNTANTS)
(943 Points)
Replied 07 March 2011
You can claim upto Rs. 1 Lakh (Consolidated- LIC + School Fees, NSC, etc. etc or full schoold fees) u/s 80C
PANKAJ KUMAR
(PROFESSIONAL)
(168 Points)
Replied 07 March 2011
Dear balkrishan you can avail the benefit for tuition fee for the children Us-80C as mentioned below:-
1. You have the limit of upto 100 per month per child for maximum of 2 children i.e. the maximum amount you avil is 2400 for the whole year.
2. Further while calculating the tuition fees plz remember the word"TUITION FEES" i.e. you can get the benefit for the same only excluding the development fees, academic fees, maintenance & other similar fees levied by the institutions.
Regards,
PAnkaj
9716972838
sachin sharma
(article)
(122 Points)
Replied 07 March 2011
hi balkrishana,
ap per it act u can claim deduction upto Rs. 1 lac but for 2 childrens under section 80C (please also note that deduction can be cliamed only for tution fees)
ASHWANI KUMAR
(ASSOCIATE OFFICER)
(44 Points)
Replied 07 March 2011
Tuition fee may be any amount but not exceeding Rs.1,00,000 Under 80c max.exemption limit is.1,00,000/- i.e.(80c+80ccc+80ccd)
Joey Tribbiani
(fdg)
(2010 Points)
Replied 07 March 2011
No offence please but why people are saying deduction u.s 80C is Rs 100 per month per child. Have I missed something or people are wrong????
Amit Bajaj
(Tax Attorney)
(9085 Points)
Replied 07 March 2011
no such limit of Rs 100 per month per child exists for tution fees deduction u/s 80C
Exact relevant wording 80C:
(xvii) as tuition fees (excluding any payment towards any development fees or donation or payment of similar nature), whether at the time of admission or thereafter,—
(a) to any university, college, school or other educational institution situated within India;
(b) for the purpose of full-time education of any of the persons specified in sub-section (4);
Live Course on Invoice Management System (IMS) - 2nd Batch(With Recording)
CAclubindia
