Tution Fee Upto Rs 1,00,000 Allowed as Deduction u/s 80C.
accounts@lbsnaa.ernet.in asked ” What is the limit of Tuition Fee (in Rupees) that is exempted from Income Tax Purpose for the financial year 2006-07?”
The limit is Rs 1,00,000 -the limit u/s 80 C . but i am afraid there is no school in India , perhaps which charges such high amount as TUITION FEE. The relevant provision under the I T Act is given below
“(xvii) as tuition fees (excluding any payment towards any development fees or donation or payment of similar nature), whether at the time of admission or thereafter,
(a) to any university, college, school or other educational institution situated within India;
(b) for the purpose of full-time education of any of the persons specified in sub-section (4);”
(a) to any university, college, school or other educational institution situated within India;
(b) for the purpose of full-time education of any of the persons specified in sub-section (4);”
I am pursuing ICWAI and for this purpose i am taking pvt coaching from privately owned institutes, can i claim this as exemption u/s 80c