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It - school education fees

SREEDAR (Sr.Manager Accounts) (64 Points)

24 February 2012

Dear all,

Anyone who explain the following queries be very appreciable!!!!

1) School Education Fees - Limitation to claim u/s. 80C

2) School Education Fees - Proof - Original required or Photocopy is enough?

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Anumanchipalli Sathikonda (Tax Consultant) (1559 Points)
Replied 24 February 2012

Mr.Sreedhar

Section 80C(2)(xvii) reads as under:

"as tuition fees (excluding any payment towards any development fees or donaltion or payment of smimilar nature), whether at the time of admission or thereafter-

(a) to any university, college, school or other educational institution situated within India;

(b) for the purpose of full-time education of any of the persons specified in sub-section (4)

and section 80C(1) reads as under:

"In computing the total income of an assessee, being an individual or a Hindu Undivided Famy, there shall be deducted, in accordance with and subject to the provisions of this section, the whole of the amount paid or deposited in the previous year, the aggregate of the sums referred to in subsectin (2), as does not exceed one laksh rupees.

Now you can come to a conclusion that there is no seperte limit for payment of school fees under sectin 80C, the over all limit of one lakh rupees will apply.

Regarding your second question School Fee-Proof-original required or pohotcopy?

Section 139C (1) reads as under:

"The Board may make rules providing for a class or classes of person who may not be required t furnish documents, statements, reeipts, certificates, reports of audit or any other documents, which are otherwise under any other provisions of this Act, except Section 139D, requiredd to be furnished along with the return but on demand to be produced beofrfe the Assessing Officer"

Now you have come to know that alongwith the return of income the proof need not be filed. But when the Assessing Officer demands to produce the proof you have to submit. You must submit the original receipt before the assessing officer and after his verification a copy of the same may be given for the records of the assessing officer who shall make a note to the effect that he verified the orignal receipt and a copy of the same is taken on records.

Best wihses

Sathikonda

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