One of the Head in our Salary Component is Children Education Allowance can we claim Exemption of Children Education Allowance U/S 10(14) and as well as Deduction of Children Education U/S80 C both at time
Children Education Allownace is exempt upto Rs.100 per month per child for maximum of 2 Children..i.e if u have 1 child and u recieve Rs.200 as CEA..Then 100*1*12=1200 would be exempt and balance Rs.1200 is taxable...
Regarding 80C..U can get deduction for Tution fees paid for full time education in India..
19 May 2008
DEDUCTIONS UNDER SEC 10(14) AND SEC 80 C .THESE TWO DEDUCTIONS ARE DIFFERENT. SEC 10 (14) ALLOWS RS 100 PER MONTH PER CHILD FOR MAX. OF TWO CHILDREN. 80 C ALLOWS TUTION FEES PAID AS DEDUCTION UPTO RS ONE LAKH PER ANNUM (MAXIMUM DEDUCTION CLUBBED WITH ALL 80 C DEDUCTIONS). R.V.RAO