What is maximum limit for School Tution fees deduction for 80C e.g. School Tution fees paid for the year Rs.50,000/-. As i come to know it is Rs.20,000/- per annum per child
School tution fees
Replies (6)
Tuition fee paid for children (max 2) is deductible u/s 80C and the limit is Rs.1.5 lacs
Just want to know was there such limit ealier Rs.20000/- for Tution Fees.
As I know, no such limit in the recent past.
No Such Limit in Tution Fees
u can Avail Deduction Upto 1.5L ( Read Sec 80C & 80CCE)
Yes maximum deduction available is 1.5 lakh..
Please note that there is no limit as stated above. Each parent is eligible to claim upto 2 children within the 80 C limit of Rs.1,50,000/- thereby claim is admissable upto 4 children if both the parents have paid the fees for 2 childrens each.
Interestingly unmarried persons having children, adopted children , divorcees taking care of their children are also eligible to claim. The act is silent on legality,biological issues, and subsistance of marriage to exist.
Recent Topics :
- Bill-to-ship-to material at client site, project c
- Export previously now to be considered domestic sa
- Pan surrender via online
- EPFO Portal Issue – Unable to Save Employee
- Plant & Machinary
- ITC reversal after supplier amended the recipient
- GIFTS TO USEFUL CONTACTS ON FESTIVALS INCOME TAX
- INTEREST ON REFUND OF TDS
- Input tax claim related
- User not found in MCA portal
Related Topics :
CAclubindia
