can we claim school fees in 80 c what is the rule of deduction of school fees
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Quick Summary
Yes, you can claim deductions for school fees under Section 80C of the Income Tax Act. This includes tuition fees paid for up to two children per parent, with a maximum deduction of Rs 1.5 lakh per financial year. Both parents can claim this benefit, effectively covering up to four children for a working couple.
For salaried employees with up to 2 children, tuition fees paid in the entire academic year per child are tax-deductible. This means that a working couple can claim tax benefits for four children in total at two each. The maximum tax credit available under this head is Rs 1.5 lakh as specified in Section 80C