Web22 Oct 2024 · Please be aware that the parent’s total deductions under Sections 80C, 80CCC, and 80CCD cannot exceed INR 1,50,000. Regardless of the class the child attends, a deduction is possible. Even if it is partnered with a foreign university, the institution, college, or university must be located in India. WebYou can avail tax deductions on investments up to Rs. 1.5 lakh every year under Section 80C of the Income Tax Act. You also have the option to invest more than Rs. 1.5 lakh in the instrument, as there is no maximum limit on how much you can invest in NSC per year.

Children Educational Allowance Exemption: 4 Ways to Save Taxes!

Web10 Apr 2024 · Tuition fees for colleges, schools etc. Apart from these payments, contributions to pension funds under section 80CCC and NPS under 80CCD (1) also fall under the umbrella deduction limit of ₹ 1.5 lakhs. There are other deductions as well – Medical expenditure and medical insurance premiums are paid under section 80D WebSection 80C. Section 80C of the Income Tax Act of India is a clause that points to various expenditures and investments that are exempted from Income Tax. It allows for a … bing news today india

Is College Tuition Tax Deductible In 2024? – th

WebSection 80C of the Income Tax Act of 1961 in India allows individuals to claim deductions on certain investments and expenses up to a maximum limit of ₹1.5 lakh per financial … Web26 Mar 2024 · 2.Exhaust your U/S 80C for the entire Rs. 1,50,000/-. As you are aware, Section 80C gives you deduction of up to Rs 1.5 lakh from your taxable income, thereby giving you tax savings based on your ... Web16 Oct 2024 · Apart from the tax deductions on interest paid, parents can claim income tax deductions on tuition fees paid to a school, college, university or any educational … d2 mosaic sin build