eTaxMentor (employee) (217 Points)
07 January 2013Hi Sir /Mamdam
I am paying education fee (RS 30200) for my self higher study (for BE) from JNTU university.can these be considered for tax saving?
Abhimanyu Bind
(CA Final Student & Audit Assitant)
(2051 Points)
Replied 07 January 2013
Yes You can claim it as a deduction under 80-C from your total income.
Regards,
Abhi
CA DIGANT CHADHA
(Academician & Consultant)
(195 Points)
Replied 07 January 2013
CA Vanamala Phani Kumar
(Proprietor of M/s Vanamala and Co)
(972 Points)
Replied 07 January 2013
NO NO NO NO U R NOT ELIGIBLE FOR TAX BENIFIT u/s 80C
DEDUTION U/s 80C – Tution Fees
1. Conditions :
i) The deduction is available to Individual Assessee and not for HUF.
ii) The Deduction is available for any two children.
2. This is the only clause u/s 80 C where assessee cannot claim tax benefit for expenditure done on himself. Means if assessee has paid tuition fees for his studies, he will not be eligible.
3. Deduction is not available for tuition fees paid for studies of spouse.
4. The deduction is available for Full Time courses only, so no deduction for part time or distance learning courses.
5. The fees should be paid to university, college, school or other educational institution, so no rebate for private tuitions.
6. Tuition fees paid for coaching courses for admission in professional courses or any other type of courses are not covered as that fees is not paid for FULL time education.
CA Vanamala Phani Kumar
(Proprietor of M/s Vanamala and Co)
(972 Points)
Replied 07 January 2013
You can claim Deduction U/s 80E for Interest on Education Loan paid by your self.
Ramanuj
(Accountant.)
(834 Points)
Replied 07 January 2013
Phani kumar is right
self study fee is not allow u/s 80c.
thanks
CAclubindia
