PCC TAX SALARIES

it exempt upto Rs.1000

It is fully taxable in such case..

ITS ONLY FOR SPECIFIED EMPLOYEES

Am getting confused again.. Is it fully taxable only for specified employees or wat??? Please clear me out...

Children education Allowance is exempted to the extent of Rs. 100P.M. per children up to a maximum of 2 children.

Suppose he is allowing Rs.80pm for each of 2 child then it is fully exempted.......and if the amt is Rs.150 pm for each of 2 child then 50*2*12 will be taxable.

no the exemption is applicable 4 all type os eyees.

okay fine.. tanq Harsh*t..

children education allowance is exempt upto 100p.m. for one child and maximum upto two children.

Children education allowance is exempt upto 100p.m. for one child and maximum upto two children.................?????????????

Children Education allowance is a special allownce that is exempt u/s 10(14). It is not a perquisite. The question whether an employee is specified or not arises only in the case of valuation of a perquisite and not an allowance.

I think Divya is not getting her question right and people r replyin jus thinkin it as an easy question. Guys you do the same mistake in examination hall. Anyways heres the answer what i have learnt:

Education facility in employer's institute (Perquisite taxable in the hands of specified employee):

1. Where the educational institute is owned and maintained by the employer and education facility is provided or where such educational facility is provided in any institute by reason of employee's employement with the employer

  a. where edu. facility is provided to employee's children

      * where cost of education or value of such benefit doesn't exceed Rs. 1000/- pm per child = Amount taxable is NIL

      * where cost of education or value of such benefit exceeds Rs. 1000 pm per child =Amt taxable is Cost in similar inst (Less) Rs 1000 pm per child (Less)amt recd from employee

2. Where edu facility is provided to a member of his household (other members) = Amt taxable is  Cost in similar inst (Less) amt recd from employee

Note : There is no restriction on no. of children as in children education allowance.

i agree with u sir it is sec-17(2)(iii)/3(5)

 Children education Allowance is exempted to the extent of Rs. 100P.M. per children up to a maximum of 2 children.

Suppose he is allowing Rs.80pm for each of 2 child then it is fully exempted.......and if the amt is Rs.150 pm for each of 2 child then 50*2*12 will be taxable.