hi all,
i have doubt in school fee receipts
most of schools are mentioning the payment as term fee as per income tax we cant allow them to take the benefit of 80C
but they are saying that we are paying school as term fee for every 3 months is it possible
According to me you should take the benifit of section 80C. The term fees is for what ? Basically it is nothing but Tution fees.
Dear hari,
If U will study the fee receipt the bill raised by the school for fee (term fee) comprises of a portion as tuition fee.u can take deduction of the same as it is no where mentioned in 80C that the fee should go monthly or yearly.any tuition fee can be claimed as deduction.even fee given to mba colleges annually compirises of a saperate portion of tuiton fee deduction of the same can be claimed.
AGREE WITH SAHARSH
I m agree with Saharsh
CAclubindia
