Can I claim all these under Section 80C? The lump sum amount of Rs 80, paid by you towards admission fees, annual charges, development fees, security deposit etc. The Section only allows for deduction of monthly tuition fees paid to school, college or any other recognised university for full time education of maximum two children of an individual.
There is no upper limit for the amount that can be claimed as a deduction with regard to tuition fees, so you can claim the actual amount paid by you in full. Updated on : Oct 04, - PM. To promote higher literacy rate and the education of children in India, there are a number of tax benefits which a person can make use of for reducing their taxable income. The government of India allows tax breaks and income tax exemption on the tuition fees paid by the individual for their children.
For some salaried individuals, payment of education or school tuition fees for children can be part of their salary structure. A parent can claim a deduction on the 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. Home Applying Application Fees. Payment Methods Online. By phone. You can contact us to pay over the phone using a credit card.
For our mailing address, see our Contact Us page. Do not send cash in the mail. Although college application fees are not tax deductible, there are deductions parents and students can take once the student is in college. Although many college-related expenses are no longer deductible, if you did not claim them for a student in your family for , you can amend that return and still receive the deduction. The IRS allows you to amend your return for two years after you paid taxes due for a particular year or for three years after you actually filed the original return.
The later date applies.
0コメント