VIRENDER SINGH GUSAIN (ACCOUNTS EXECUTIVE) (46 Points)
30 January 2015Dear Sir/Madam,
If an assessee has first children twins, then what will be the exempt income for Children Education allowance US 10(14). Please suggest.
Is it Rs.100 x 1 x 12 = Rs.1200
or it will be Rs. 100 x 2 x12 = Rs.2400
Regards
Virender Singh Gusain
P.S. : Assessee has only these twins only.
Ram M. Dixit
(CA Final (Author))
(376 Points)
Replied 30 January 2015
This allowance is Rs.100 per child for maximum two children.
So Rs. 2400/- will be allowed.
vishalsingh
(Student)
(23 Points)
Replied 30 January 2015
CA Pankaj Kr Agrawal
(@Helping Hand)
(2143 Points)
Replied 30 January 2015
Hi,
Children Education Allowance and Hostel Allowance allowed to the children of employee :
|
|
Children Education Allowance |
Hostel Allowance |
|
Monthly Exemption |
Upto Rs. 100 p.m. / child |
Upto Rs.300 p.m. /child |
|
Lump sum Exemption |
Rs. 1,200 per child is exempt |
Rs.3,600 per child is exempt. Rs.7,200 is exempt. |
Exemption u/s 10(14)(ii) read with Rule 2BB(ii) is Rs. 100 per month per child to the maximum of 2 children irrespective of actual expenses.
Arif Ali
(Apt Co Advisory)
(1230 Points)
Replied 31 January 2015
| Originally posted by : VIRENDER SINGH GUSAIN | ||
 |
Dear Sir/Madam, If an assessee has first children twins, then what will be the exempt income for Children Education allowance US 10(14). Please suggest. Is it Rs.100 x 1 x 12 = Rs.1200 or it will be Rs. 100 x 2 x12 = Rs.2400 Regards Virender Singh Gusain P.S. : Assessee has only these twins only. |
 |
you can claim 2400.00 .i.e. 100 x 2 x 12 = 2400.
Arif Ali
(Apt Co Advisory)
(1230 Points)
Replied 31 January 2015
| Originally posted by : CA Pankaj K Agrawal | ||
|
Hi, Children Education Allowance and Hostel Allowance allowed to the children of employee : Children Education Allowance Hostel Allowance Monthly Exemption Upto Rs. 100 p.m. / child Max 2 child is exempt Upto Rs.300 p.m. /child Max 2 child is exempt Lump sum Exemption Rs. 1,200 per child is exempt Max Rs.2,400 exempt Rs.3,600 per child is exempt. Rs.7,200 is exempt. Exemption u/s 10(14)(ii) read with Rule 2BB(ii) is Rs. 100 per month per child to the maximum of 2 children irrespective of actual expenses so Rs. 1200 (Rs. 50* 2 *12) will be exempted. |
|
Hi Pankaj, can you please explain why only 1200 allowed. (50 x 2 x 12 = 1200)
Jayan K
(2 Points)
Replied 16 July 2019
Hi
I have 3 children. Elder girl 9 yrs and younger twins 4 yrs. All three are getting CEA. In the case of second delivery twins how much is IT exemption, 2400 or 3600?
Manjeet Kaur
(student)
(119 Points)
Replied 16 July 2019
Rs. 2400/- only. No further exemption for twins...
CAclubindia
