Under which clause of Sec10(14) exemption of Rs2400/-for two children in respect of Children education allowance will be allowed for the AY2020-21.
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Quick Summary
This discussion clarifies the exemption for children's education allowance under Section 10(14)(ii) read with Rule 2BB(ii) of the Income Tax Rules for Assessment Year 2020-21. The exemption allows for up to Rs2400 for two children. It also briefly touches upon the taxability of conveyance allowance.