80C Regarding Payment of tution fees
This query is : Resolved
11 February 2011
Is payment of tution fees for self(not for children) is allowed as deduction? If Yes then under what Section?
11 February 2011
No payment of Tution fees for self is not allowed as deduction u/s 80C.
11 February 2011
Good Question!!!!
There is only section 80E, which describes that interest on educational loan is exempt, even if taken for himself by the assessee but on all other places there is exemption available only for children.
However, under allowance if you receive academic allowance then it is also exempt but upto office purpose only.
Let the oter experts also show their opinion regards this.
Regards!!!
There is only section 80E, which describes that interest on educational loan is exempt, even if taken for himself by the assessee but on all other places there is exemption available only for children.
However, under allowance if you receive academic allowance then it is also exempt but upto office purpose only.
Let the oter experts also show their opinion regards this.
Regards!!!
11 February 2011
Following points should be kept in mind regarding deduction for tution fees u/s 80C---
1. Deduction for tuition Fees is available up to Rs.100000 /-
2. The limit of one lac as above is total limit u/s 80C for all type of savings ,plus section 80CCC(pension policy) plus u/s 80CCD(Contributory Pension Plan).Means the aggregate amount of deduction under above referred sections can not exceed Rs. 1,00,000.
3. The deduction is available to Individual Assessee and not for HUF.
4. The Deduction is available for any two children.
5. This the only clause u/s 80 C where assessee can not claim tax benefit for expenditure done on himself.Means if assessee has paid tuition fess for his studies ,he will not be eligible.
6. Deduction is not available for tuition fees paid for studies of spouse.
7. The deduction is available for Full Time courses only,so no deduction for part time or distance learning courses.(This is my opinion but point is not very clear)
8. The fees should be paid to university, college, school or other educational institution,so no rebate for private tuitions.
9. Tuition fees paid for coaching courses for admission in professional courses or any other type of courses are not covered as that fees is not paid for FULL time eduction.
10. The center mention above in point 8 must be situated in India,so location should be in India though it can be affiliated to any foreign institutes.
11. In This section tuition fees has a wide meaning than normal parlance ,means here tuition fees means total fees paid minus any payment towards any development fees or donation or payment of similar nature.so admission fees is also allowed.
12. In My Opinion Transport charges ,hostel charges,Mess charges ,library fees ,scooter/cycle/car stand charges is not allowed.
13. Building fund or any donation etc not allowed.
1. Deduction for tuition Fees is available up to Rs.100000 /-
2. The limit of one lac as above is total limit u/s 80C for all type of savings ,plus section 80CCC(pension policy) plus u/s 80CCD(Contributory Pension Plan).Means the aggregate amount of deduction under above referred sections can not exceed Rs. 1,00,000.
3. The deduction is available to Individual Assessee and not for HUF.
4. The Deduction is available for any two children.
5. This the only clause u/s 80 C where assessee can not claim tax benefit for expenditure done on himself.Means if assessee has paid tuition fess for his studies ,he will not be eligible.
6. Deduction is not available for tuition fees paid for studies of spouse.
7. The deduction is available for Full Time courses only,so no deduction for part time or distance learning courses.(This is my opinion but point is not very clear)
8. The fees should be paid to university, college, school or other educational institution,so no rebate for private tuitions.
9. Tuition fees paid for coaching courses for admission in professional courses or any other type of courses are not covered as that fees is not paid for FULL time eduction.
10. The center mention above in point 8 must be situated in India,so location should be in India though it can be affiliated to any foreign institutes.
11. In This section tuition fees has a wide meaning than normal parlance ,means here tuition fees means total fees paid minus any payment towards any development fees or donation or payment of similar nature.so admission fees is also allowed.
12. In My Opinion Transport charges ,hostel charges,Mess charges ,library fees ,scooter/cycle/car stand charges is not allowed.
13. Building fund or any donation etc not allowed.
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