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Tution fees under section 80C confusion ?


Kuldeep Singh   22 January 2020

Kuldeep Singh

 42 points

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Sir/madam, 

I paid amount of Rs 80,000 as tution fees of my son who is studing in Class 1 on 10/01/2019 (FY 2018-19). That time my office accountant told me that "you can not show this tution fees in same financial year FY 2018-19 so if you want to show this amount for income tax rebate under section 80C (max 1.5 L) then show this fees amount in next financial year FY 2019-20 . is it true ?

avater

RAJA P M ("Do the Right Thing...!!!")     22 January 2020

RAJA P M
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Is it true ?

- No... This is Wrong...!

Deduction available as the same FY as Date of Receipt...

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S ELAVARASI (ACCOUNTANT)     22 January 2020

S ELAVARASI
ACCOUNTANT 
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The tuition fee claim in fy 18-19...

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Kapadia Pravin   22 January 2020

Kapadia Pravin

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Deduction available on payment basis: –

Deduction under this section is available on payment basis. Fees may be related to any period. For example feed paid for April 2019 if Paid in March 2019 will be eligible for deduction u/s. 80C in A.Y. 2019-20.
---------+
Tuition Fees does not include -

1. Development fees or donation not eligible.

2. Transport charges, hostel charges, Mess charges, library fees, scooter/cycle/car stand charges incurred for education are not allowed.

3. Late fees is not eligible for deduction.

4. Term Fees is not eligible for deduction.

5. No deduction for part time or distance learning courses.

6. no rebate for private tuition.

7. Building fund or any donation etc not allowed.

Note: Above list is not exhaustive.

avater

Kuldeep Singh   23 January 2020

Kuldeep Singh

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Still confuse in financial year and accessment year in terms of fees paid. In my scenerio, three years are coming as 2018,2019,2020. Please clarify with simple

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RAJA P M ("Do the Right Thing...!!!")     23 January 2020

RAJA P M
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As per your query.,

You can claim deduction in FY 18-19...

FY 18-19 means transactions from 01/04/2018 to 31/03/2019...

Now, You clear... ?!!

CA.Anurag Gupta   23 January 2020

CA.Anurag Gupta

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Pls understand the difference between FY (Financial Year) and AY (Assessment Year)

For FY 2018-19 the relevant AY is 2019-20

The accountant must have said that for FY 2018-19 u can claim deduction in AY 2019-20

avater

RAJA P M ("Do the Right Thing...!!!")     23 January 2020

RAJA P M
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Yes... I agreed to Mr CA Anurag Gupta...

Well explained...

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Kuldeep Singh   23 January 2020

Kuldeep Singh

 42 points

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Anuraj ji,

When i will show this tution fees amount in income tax green sheet of organization:

1. Before 31 March 2019

OR

2. Before 31 March 2020

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RAJA P M ("Do the Right Thing...!!!")     23 January 2020

RAJA P M
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31st March 19...

But, it's filing between 01/04/19 to 31/03/20


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