School fees deduction
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 March 2010
Mr X has two companies. One is properitor
firm and sencond is private ltd company.
I want to know following things.
1. Is school fees is allowed as a deduction from GTI in his own return.
2. What if the school fees has been paid by his pvt. ltd. company's bank?
firm and sencond is private ltd company.
I want to know following things.
1. Is school fees is allowed as a deduction from GTI in his own return.
2. What if the school fees has been paid by his pvt. ltd. company's bank?
16 March 2010
Mr.X can claim deduction under Section 80C for tution fees paid to school for maximum of two child and the maximum amount can be 1 lakh i,e the limit under Section 80C. He should paid the primium from his own Bank Account, if he is the proprietor then paying from propritorship firm is ok.
Message likes :
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16 March 2010
as per my opinion : IF he make payment through his pvt. ltd. co's cheque is also allowed for ded'n if receipt is in the name of mr. X, and co. debit a/c of X.
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