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Friday, January 6, 2017

Tax Benefits for Tuition Fees of Children

  


Section 10 and Section 80C of the Income Tax Act provide tax benefits for tuition fee


 
There is no differential treatment between private sector and government employees for income tax.

Tax benefits for tuition fees of children are available under following two sections of the Income Tax Act:

Section 10: 

Tax exemption for tuition fee of up to Rs 1,200 (Rs 100 per month) per child for a maximum of two children. 

Section 80C: 

In addition, you can claim tax deduction of up to Rs 1.5 Lakh for the tuition fee under section 80C. However, this is a blanket limit available for several things, such as life insurance premium, investments in PPF, ELSS, NSC, etc., taken together.




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