80C Exemption..
This query is : Resolved
31 August 2016
In 80C.. Tution fees of children is exempt..
and tution fees can be either of school or of tution..
my doubt is Tution fees paid to icai for cpt,ipcc,final, iam talking specifically about TUTION FEES..
please tell that can it be included in 80C exemption.
( as there is 1-2k tax and the payer want to reduce it, he paid 12k as tution fees of their children to ICAI )
31 August 2016
Dear umang,
Fees paid to icai is registration fees and not tution fees and hence not allowed as deduction.
Hope your query is resolved
Kindly like if my response has helped you
31 August 2016
Hope your query is resolved
Message likes :
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01 September 2016
@Anurag - I have checked the bifercation of reg fees paid to icai, there is tution fees.. In CPT there out of 6000, full 6000 is tution fees ( check the image that iam sending )
same in ipcc out of 12000, 4-5k is tution fees..
01 September 2016
basically try to use the word DEDUCTION in place of EXEMPTION.
80 C (xvii) is applicable to university, college, school or other educational institute.
ICAI does NOT fall under any of the 4 above.
80 C (xvii) is applicable to university, college, school or other educational institute.
ICAI does NOT fall under any of the 4 above.
01 September 2016
Dear Umang,
U cannot take deduction for payment to icai
02 September 2016
dear umang
you can take deduction of fees paid to ICAI
no problem in that.
Reason being ca course is
02 September 2016
reason being ca is a full time course hence fulfils the conditions of section 80c
02 September 2016
Dear Ankur,
Sec 80 c(xvii) allows Deduction of Tution fees only if payment made to a university, college, school or educational institutions.
ICAI does not come under any category.
hence its not allowed to claim deduction under 80c for payment made to icai
we have some clients which claim icai payment as deduction under 80C but in assessment from AO it was disallowed.
Hope your query is resolved
02 September 2016
@Anurag : ICAI will not come under category educational institute..??
02 September 2016
Dear umang its not a full time course and it's a professional course.
05 September 2016
ICAI is not educational institute. It is a governing body, created with the Act of Parliament.
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