7 Replies
Athmaram
(Articled Assistant)
(170 Points)
Replied 17 March 2011
| Originally posted by : Dilip Simha G V | ||
 |
In Children Tution fees there is a exeption of Rs.200 p.m /P.child U/S 10, but once again Deductions is also there U/S- 80 C (Payment of tution fee paid to two children) ! What is the difference b/w these two ? Pls suggest me.. |
 |
Children Tution Fees exempt u/s 10 is for Salary employees who receive childeren tution fees as allowance and the cealing for this is Rs.200p.m/P.child any amount received in excess of this is taxable under the head salary.
Children Tution fees Deduction u/s 80C is eligible to all individual assessee & what ever may be the heads of income they earn. This deduction is elligible to the tune of actual fee receipts & the cealing is Rs.1,00,000 as per Sec 80CCE.
Dilip Simha G V
(Student CA CPT CWA Inter)
(123 Points)
Replied 17 March 2011
Thank you very much ... I was very confused on these two..
Rohit
(b.com)
(91 Points)
Replied 17 March 2011
i think children education allowance is 100/-p.m.p.child
Srihari Manipatruni
(student)
(147 Points)
Replied 17 March 2011
accourding to sec 10(14)--children educational allowance shall exempt upto rs 100 per child upto of 2 childeren....
accourding to sec80(c)--payment made as tution fees to any university, college orschool or any educational institution in India in respect of any 2 children of assessee...
accourding to sec10(5)---Leave travel concession -- exemption shall be availed in respect of two journeys
performed in block of 4 callender years...
Dilip Simha G V
(Student CA CPT CWA Inter)
(123 Points)
Replied 21 March 2011
Thank you srihari.. What is the cealing limit for LTA?
Ritesh Jain
(CA, CS in Job)
(675 Points)
Replied 10 February 2014
Dear,
As per provisions of IT act employee has to travel alongwith parents to be eligible for LTA exemption.
What If parents join in between of journey, whether the total exemption related to parent portion will not be given or partial.
For e.g:
Suppose an employee starts journey from A and reaches to D via B and C.
Parents join at point B and come back to B alongwith family. whether there will be any LTC exemption for parents portion. ??
Please reply quoting some supporting case law and provisions.
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