Children Education allowance is exemtpted upto rs. 100/- p.m per child upto 2 children and hostel allowance is exempted upto rs. 300/- p.m per child upto 2 children and also 80C alows tuition fee paid as a deduction.
So we can exempt these allowances and also consider the actual fees paid u/s 80C for calculating the TDS amount on salary.
Am I right ????????????
Exemptions for Children's Education, Hostel Allowances, and Tuition Fee Deductions Confirmed Under Section 80C for TDS Calculation. A query was raised regarding the exemption of certain allowances from taxable salary under Indian tax laws. Specifically, the discussion focused on the exemption limits for children's education and hostel allowances, and the deduction of tuition fees under Section 80C when calculating TDS on salary. Two respondents confirmed that there are no restrictions on these exemptions and deductions, affirming the query's understanding. (AI Summary)
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