Hi,
Any body can pls. let me know that how much amount is exempted for Children Education Allowance u/s 80C for the F.Y.2012-2013? If one person submits proofs of tution fees of Rs.30,000/- for I.Tax exemption then, can he avail full amount of deduction from his taxable amount?
Regards
Sanjoy
No Limit... Yes u can get. Overall limit of 80C is 1 Lakhs
over all ceiling on 80C IS 1 LAKH,THERE IS NO SPECIFIC CELING ON TUTION FEE LIKE THAT
Children education allowance is exempt u/s 10(14) equal to Rs 100 per month per child upto maximum of two children.
For tution fees, I agree with the above views. However, this amount should include only tution fees. Paid made for development fees or donation or any other payment of similar nature is not deductable u/s 80C.
Chirag P Shah & Co. Chartered Accountant
Pune
B.Com
View Details
MANUJ SHARMA AND COMPANY
Noida
CA Inter
View Details
Twenty Point Nine Five Ventures Private Limited
Noida
CA Inter
View Details
Murali and Sumeet Chartered Accountant
Bengaluru
CA Foundation
View Details
CCI
Pro
CAclubindia
