The Payment of Fee (Full-time) for Education in India during the Financial Year 2008-2009 is Rs.4,40,000/-. What Amount will be deductible under Section 80C as per Income Tax. 1st Installment Paid : Rs.1,25,000/- (Tuition- 1,05,000/-; Security- 10,000/-; Facility Dev.Account- 10,000/-) 2nd Installment Paid : Rs.1,13,000/- (Room Rent- 40,000/-; Boarding- 30,000/-; Student Welfare Activity10,000/-; Reading Materials/books- 25,000/-; Alumni Association fee- 3,000/-; Library fee- 5,000/-; 3rd Installment Paid : Rs.1,01,000/- (Tuition fee) 4th Installment Paid : Rs. 1,01,000/- (Tuition fee).
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What Amount will be deductible under Section 80C ?
Replies (6)
Under 80C its upto 1 lak only, only have to consider tuttions fees.......................
For decduction u/s 80-C only tution fees will be consdidered which in total comes to Rs 307000/- & only deduction of Rs 100000/- will be given to the assessee & not more than that
Both Balasubramanya & Nitin Jain r right..
yes even though you paid avobe 1 lakh for tuition fees you will not ger more deduction u/s 80c say Rs.1 lakh only .
and remember under section 80c only tuition fees is allowed as deduction and not any further amt. in respect of education fees.
But still i have doubt that in some of the organization are giving deduction considering the COMPUTER FEES also but some of not.....
so pls if u have any idea about that pls tell me....ok
have a nice day......
my email id is deven1221 @ gmail.com
yes ... Balasubramanya & Nitin Jain are correct ......
Exemption u/s 80C is restricted to Rs 1,00,000 which takes into consideration only tution fees
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