One of my employee (comes under TDS)is pursing his M.Tech and paid fees an amount of Rs.22,000/- is that amount exempt from tax?if so it is inclusive of 1,00,000(80ccc) or apart from 1,00,000 kindly help me
31 December 2009
Dear if you have taken loan for higher education then it's interest repayment is covered u/s 80E & does not count for sec 80CCE.(i-e it will apart from Rs.l lac ceiling) In any other case it will be count u/s 80C & hence added while calculating total deduction u/s 80CCE
CAclubindia
