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  1. www.livemint.com › money › personal-financeThree types of income tax benefits available for education

    Oct 3, 2021 · Income Tax: This benefit is available for education in any school, college, university or any other educational institution in India. Education has potential to improve quality of life of...

    • Balwant Jain

  2. cleartax.in › s › tuition-fees-deduction-underTax Benefits on Children Education Allowance, Tuition Fees ...

    • Exemption For Childrens' Education and Hostel Expenditure
    • Deduction on Tuition Fees Under Section 80C
    • Eligibility of Tuition Fees Deduction Section 80C
    • Non-Eligibility of Tuition Fees Deduction Section 80C

    The following exemption* is provided to a salaried taxpayer in India: 1. Children's Education Allowance: INR 100 per month per child up to a maximum of 2 children. 2. Hostel Expenditure Allowance: INR 300 per month per child up to a maximum of 2 children. (*Only if expenses are incurred in India as per Section 10(14) of the income tax act)

    See full list on cleartax.in

    A parent can claim a deduction on the actual amount paid as tuition fees to a university, college, school or any other educational institution. Other components of fees, like development fees and transport fees, are not eligible for deduction under Section 80C. In a financial year, individuals can claim a maximum deduction of Rs 1.5 lakh for paymen...

    See full list on cleartax.in

    Persons paying any sum/fees towards the education of their children can claim tax deduction under Section 80C, subject to the satisfaction of certain conditions, which have been enumerated below: 1. Who is eligible: This deduction can be claimed only by a parent. An adopted child's school fees is also eligible for deduction. 2. Number of Children: ...

    See full list on cleartax.in

    The deduction is not available for payment towards part-time courses.
    The deduction is not available towards payment made for school fees of self, spouse, brother or sister, father or mother or any other relative.
    Fees paid to a foreign university situated outside India are not eligible for this deduction.

    See full list on cleartax.in

  3. tax2win.in › guide › tution-fees-deduction-underTax Benefits on Children Education Allowance, Tuition fees ...

    Jan 16, 2024 · Discover Tax Benefits on Children's Education: Learn how Section 80C offers deductions for Education Allowance, Tuition Fees, and School Fees. Maximize your tax savings while investing in your child's future.

  4. economictimes.indiatimes.com › wealth › taxHow to claim tax benefit on tuition fees under Section 80C

    Feb 17, 2017 · Sending kids to school has an inbuilt tax advantage for parents. This is because tuition fee qualifies for tax benefit under Section 80C of the Income-tax Act, 1961. The amount of tax benefit is within the overall limit of the section of Rs 1.5 lakh a year.

  5. taxguru.in › income-tax › income-tax-educationalIncome Tax on Educational Institution (Private School) - Tax Guru

    Aug 17, 2022 · The income of any university or other educational institutions shall be exempt from tax under this provision on fulfilment of the following conditions: It is existing solely for educational purposes. It is not existing for purpose of profit and. Its annual receipt do not exceed Rs. 5 crores. 2.

  6. www.moneycontrol.com › news › businessBudget 2024: How children’s tuition fee can help save on ...

    Jan 30, 2024 · It also offers tax breaks on school/college tuition fees paid for up to two children, subject to the maximum limit of Rs 1.5 lakh.

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  8. edufund.in › blog › tax-benefits-on-child-education-feesMaximize Savings: Tax Benefits for Child Education Fees - EduFund

    Aug 22, 2023 · Yes, taxpayers can enjoy tax benefits on their child’s education fees and additional deductions that are permitted for the same under section 80C of the Income Tax Act. Is school fees eligible for an 80C deduction?