Search results
People also ask
Can I claim taxes on tuition fee payment of my child?
Are children education allowance & tuition fees taxable?
Can I claim a tax deduction for tuition fees?
Can a child education fee be claimed as a tax deduction?
Jul 29, 2024 · No, education allowance is an exemption upto ₹ 100 per child (maximum of two children) under section 10. However, tuition fee deduction can be claimed upto ₹ 1.5 lakh for payments made to tuition fees under section 80C of the income tax act.
Jan 16, 2024 · Apart from Children’s Education fee, a separate Tax Deduction can be claimed on the Tuition Fee paid by parents for their children's education. This deduction includes any Tuition Fee paid at the time of admission or any other time to a registered School, College, or University based in India.
Feb 17, 2017 · When you pay your kids' tuition fees, it qualifies for income deduction and also helps in reducing your tax liability. Here is how you can claim this tax benefit under section 80C of the Income-tax Act, 1961.
Jan 7, 2020 · Maximum Child: Deduction under this section is available for tuition fees paid on two children’s education. If Assessee have more then two children then he can claim tuition fees paid of only two children’s. The Deduction is available for any two children.
As of 2020, an individual can claim tax breaks on all sums paid as tuition fees deduction to schools, colleges, universities, and other educational institutions. Note that the exemption will be entertained only if these institutions are recognised by competent Central or State bodies.
Jul 24, 2020 · A parent can claim a deduction on the amount paid as tuition fees to a university, college, school or any other educational institution. The highest exemption amount against tuition fee can be claimed for up to Rs 1.5 lakh together with the deduction with respect to insurance, provident fund, pension etc. in a financial year.
Feb 27, 2023 · Further, you can also make tax deduction claims on tuition fee payment of your child under section 80C of the Income Tax Act, 1961. The IT Act allows claiming tax exemption benefits on the tuition fee portion of the total fees paid for educating your children.
