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JIJOKMAT3
05-06-2011, 02:33 PM
(a) Is children education allowance taxable.

(b) If I paid Rs 100000/- in the school as tuition fee for my first child,
is it possible to take tax deduction of 100000/ under 80C &
reimbursement of tuition fee up to 12000/-



Rds

JIJO MATHEW(AFK)

Victor
06-06-2011, 09:37 AM
Children Education Allowance received during the year will be included in the income and taxed. The amount paid as Tuition Fees will be treated as part of Savings under 80C subject to an overall limit of Rs. 1.00 lakh.

Victor

JIJOKMAT3
06-06-2011, 07:51 PM
Dear your answer is not up to the mark


JIJO MATHEW

RKPATHAK
07-06-2011, 09:45 AM
Tax exemption for cea is admissible within overall limit of rs 1,00,000 under section 80-c

gokul1969
08-12-2011, 08:18 AM
As per Income Tax Act, a sum of Rs.100/- per month for a maximum of 2 children are eligible for exemption as like Transport Allowance which are allowed exemption of a maximum of Rs.800/- per month. I am of the opinion we can therefor claim exemption of Rs.100/- per month per children. Gconnect Income Tax calculator requires to be modified to such extent.
Regards
Gokul

gokul1969
15-12-2011, 01:49 PM
Why there is no response. Will Victor respond to the original query

Gokul

SASI
15-12-2011, 06:36 PM
Children’s education allowance up to Rs. 100 per month per child for a maximum of two children is exempt from income tax. Similarly Hostel expenditure allowance of Rs. 300 per month per child for a maximum of two children is also exempt.

sasi

gokul1969
15-12-2011, 06:58 PM
Thank you.

Regards

Gokul