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Under Indian Income Tax Act, who has to consider children tuition fees exempt u/s 80 C? Employer or Employee? |
Under Indian Income Tax Act, who has to consider children tuition fees exempt u/s 80 C? Employer or Employee? Any amount paid as tuition fee (not including any payment towards development fees/donation/payment of similar nature) whether at the time of admission or otherwise to any university/college/educational institutions in india for full time education. The afforesaid is the provision. Definately the tax payer the employee have to declare the same. The person who is incurring the expenses will have to consider it. Source(s): Tax guru simona la cacariza ese tu si sabes employee get deduction under 80C All the members of the Faculty, Officers and Non-teaching staff whose salary income for the Financial Year 2006-2007 exceeds Rs.1,00,000/- are requested to furnish the particulars of the Income etc. in the enclosed proforma to enable the Pay bills Section to regulate the recovery of the balance of the Income Tax for Financial Year 2006-2007 in the Pay Bills for remaining months. All concerned employees are requested to ensure enclosing the following invariably while submitting the Assessment Form : 1. If House Rent Receipt is less than Rs.3,000/- P.M. proof need not be furnished but need to be mentioned in Assessment Form. Others should invariably submit the House Rent Receipt. 2. Latest Receipts of proof of specified savings under Chapter VI-A i.e. U/S 80 (C) & (D) for claiming the exemption. No exemption will be allowed if sufficient proof to this effect is not produced, latest by 9th December, 2006 and the documents of proof (Photo copy) submitted after the due date will not be entertained. 3. Income if any (Other than salaries), chargeable to other heads, on which the employee is desirous, that is tax to be deducted at source from his/her salary, may furnish the particulars in Form 12C. Further it may be ensured that there is no omission in furnishing the Income Tax recovered against the claim of Arrears / Honorarium / Over Time Allowance / Reimbursement of Tuition Fees, etc. 4. Every employee should mention the PAN (Permanent Account Number). Those who do not have PAN numbers till now, are requested to immediately obtain the same from Unit Trust of India etc., and then submit a Xerox copy of it to the Pay Bills Section for official record. It is compulsory that the employees who have not yet submitted the PAN number must and should submit the same to the Pay Bills Section, without PAN Number the Assessment Form will not be accepted. It is requested that these particulars may be furnished by 15th November, 2006, failing which the Pay Bills Section will recover the Income Tax based on the information available in the records and remit the same to the Income Tax Department, without informing the individual. It may be noted that once deduction is made from the Pay Bills, it will not be possible to refund at University level. As such, all the particulars may be given to Pay Bills Section well in advance. The prescribed Income Tax Assessment Form may be obtained from the Pay Bills Section. Note: Income Tax Assessment Format for the Financial Year 2006-2007 can also be downloaded from the University Website http://www.uohyd.ernet.in/admin/finance_... Children Eduction Expenses is excempt under Income tax section 80C. This is considered/allowed within the overall limit of Rs.1.00 lakh and the benefit will go to the indvidual ie. the EMPLOYEE- - |
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