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of <h1>Section 87A Offers Tax Rebates for Residents Funding Children's Full-Time Education Abroad, Capped at Specific Limits</h1> Section 87A, introduced by the Finance Act of 1964, provides a tax rebate for residents who are not Indian citizens and have incurred educational expenses for their children studying full-time abroad. The rebate applies to children who are wholly or mainly dependent on the taxpayer and are under 21 years of age. The deduction is calculated based on the average rate of income tax and is capped at either 2,000 rupees or 25% of the taxpayer's total income for one child, and 4,000 rupees or 25% for more than one child, whichever is less.
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