80c

modi kamal (Querist) 15 May 2013 This query is : Resolved
Can an HUF firm give School Fees on behalf of it's co percener & avail rebate under 80C? Co Percener is a minor.

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Advocate M.Bhadra (Expert) 15 May 2013
This blog is original written by www.taxguru.in

Who is Eligible: Deduction for tuition fees u/s. 80c of the Income Tax Act 1961 is available to Individual Assessee and is not available to HUF.

Maximum Child: Deduction under this section is available for tuition fees paid on two children’s education. If Assessee have more then two children then he can claim tuition fees paid of only two children’s. The Deduction is available for any two children.

Here we would like to mention that husband and wife both have a separate limit of two children each, so they can claim deduction for 2 children each.