Deduction for Education Fees Paid u/s 80c. Section 80C of personal expense act permits deduction in respect of numerous payments and ventures made. Section 80C permits a deduction for payment of Instruction Fees paid for the Training of Children. Any person who has paid Training Fees for his Children are permitted to guarantee this deduction under Section 80C. As of late, we give Total subtleties to Do NRIs need to record Return of pay in India?.
(1) It’s accessible to people as it were
(2) Every single other individual with the exception of people are ineligible for this deduction.
Download Automated Income Tax Revised Form 16 Part A&B for the Financial Year 2019-20 [ This Excel Utility Can Prepare At a time 100 Employees Form 16 Part A&B for theF.Y.2019-20]
under this section, the deduction is accessible for education costs paid on two children instruction. On the off chance that The assessee has more, at that point two children then he can guarantee education costs paid of just two children.
Accessible to each parent:
This deduction is accessible to both, father and mother of the children for whose training the payment is made. Them two can guarantee deduction under this head.
Fees paid in respect of following just will be permitted as a deduction :
• Play school fees
• pre nursery fees
• Nursery class and higher classes fees
• University, school or other instructive foundation fees.
Download Automated Income Tax Revised Form 16 Part B for the Financial Year 2019-20 [This Excel UtilityCan Prepare At a time 100 Employees Form 16 Part B for the F.Y.2019-20]
Payments made in respect of following are not qualified for deduction u/s 80C :
• Any Low maintenance courses
• Fees for Instructing classes or private educational costs
• Fees for Separation courses
• Donation to an instructive foundation for getting any confirmation and so on
• Hostel fees of the children.
• Any the sum paid in respect of punishment for the delay in paying the normal fees.
• Payment made in respect of self-training/for a companion isn’t qualified for the deduction.
Download Automated Income Tax Revised Form 16 Part B for the Financial Year 2019-20 [This Excel UtilityCan Prepare At a time 50 Employees Form 16 Part B for the F.Y.2019-20]
This isn’t a debilitating rundown.
This deduction towards payment for educational cost/training of children is qualified on payment premise. Irrespective of the scholastic year for which you have paid the fees, a deduction is reasonable on payment premise as it were.
Most extreme deduction:
Deduction for the payments made as education costs is dependent upon in general restriction of 1.5 lakhs.
Some different focuses to be known:
(1) College, school, school or other instructive foundation must be arranged in India. Be that as it may, it tends to be subsidiary to any unfamiliar college/foundation.
(2) The deduction can be guaranteed in respect of payment made for the training of received children too. Section 80c is quiet about the status of children.
(3) When guardians got separated and children are with both of the guardians then the deduction can be profited by the parent who pays the fees.
Download Automated Income Tax Preparation Excel Based Software All in One for the West Bengal Govt. Employees for the Financial Year 2020-21 and Assessment Year 2021-22 U/s 115BAC
Feature of this Excel Utility:-
1) This Excel Utility Prepare Your Income Tax as per your option U/s 115BAC perfectly.
2) This Excel Utility has the all amended Income Tax Section as per Budget 2020
3) Automated Calculation Income Tax House Rent Exemption U/s 10(13A)
4) Individual Salary Structure as per the West Bengal Govt. Employees Salary Pattern as per ROPA-2019
5) Individual Salary Sheet
6) Individual Tax Computed Sheet
7) Automated Income Tax Revised Form 16 Part A&B for the F.Y.2020-21
8) Automated Income Tax Revised Form 16 Part B for the F.Y.2020-21
10) Automatic Convert the amount into the in-words without any Excel Formula