If an assessee received Education Allowance for 7 months only @ of Rs 500/- can he claim the deduction for 12 months or it should be restricted to the months during which he received the allowances.
Sunil (Sr. Manager Accounts) (36 Points)
02 March 2012If an assessee received Education Allowance for 7 months only @ of Rs 500/- can he claim the deduction for 12 months or it should be restricted to the months during which he received the allowances.
CA.HARSHIT KHATRI
(CHARTERED ACCOUNTANT)
(47 Points)
Replied 02 March 2012
Assessee can claim deduction upto Rs. 100 per month per child (for max 2 children)
Anumanchipalli Sathikonda
(Tax Consultant)
(1559 Points)
Replied 02 March 2012
Mr.Sunil
and
CA Harshit Khatri
Unless the allowance is received for the period of 12 months the exemption cannot be claimed. Please the wordings of section 10(14)(ii).
Best Wishes
Sathikonda
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
CAclubindia
