Deduction u/s 80c
This query is : Resolved
29 January 2013
Sir/ Madam Please let me know that, Whether Tuition fees paid by education loan is allowed as Deduction U/s 80C???
Thanking u in advance.
Thanking u in advance.
29 January 2013
u/s 80C deductions are available for the payments made out of taxable income and not from the borrowed amount.
Message likes :
1 times
29 January 2013
yes right... thank u very much....
30 January 2013
The condition that investment / payment for 80C should be out of the 'assessee's income' was in the section stood prior to 01/04/1991. Section 80C was omitted by the Finance Act,1990 and re introduced through Finance Act,2005 wherein that condition was taken away meaning thereby, tuition fee paid out of borrowed funds qualifies for deduction under section 80C.
Ref:- 80C(2)
Ref:- 80C(2)
Message likes :
1 times
29 July 2013
Yes I agree with the experts
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
