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 ????????????
TaxTMI