Can Individual take the exemption of Children Education Allowance for newly birth child/ child who completed his education/ child who is also a father.
Deepak Kumar (Chartered Accoountant) (270 Points)
27 February 2010Can Individual take the exemption of Children Education Allowance for newly birth child/ child who completed his education/ child who is also a father.
Chintan Shah
(-)
(534 Points)
Replied 27 February 2010
Dear Deepak sir,
CEA upto Rs. 100 per child per month upto two children is exempt irrespective of expenditure incurred since it is covered by clause (ii) of sub section (14) of Section 10. Hence even if none of children is studying or a child is a newly born baby, CEA will be allowed.
Regards,
Chintan
C.Balaji
(Learner)
(1867 Points)
Replied 27 February 2010
I should rate this as a good query.........
According to me........
The ACT says Children Education Allowance:
Amount exempt is Rs.100 per month per child subject to a maximum of two children.............
It does not specify that the child/children should be studying....
CA. Abhishek K. Pandey
(Manager (Advance))
(901 Points)
Replied 28 February 2010
Yes, there is no specification regarding children's education status. The thing mentioned is Rs. 100.00 p.m. upto a limit of max. 2 children.
Prasanth Nair V
(ACA,ACS,CWA Final,Mcom)
(557 Points)
Replied 16 March 2010
Rajat Singhal CA,CS,CFA
(Senior Manager (F&A))
(254 Points)
Replied 16 March 2010
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