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b) That in the next yr (2018-19) how the claims for 2017-18 will probably be submitted? Will it’s submitted in two manners i.e. pre 7th pay fee system for April to June, 2017 & and the remainder 9 months as per the mentioned order. Training allowance as much as 2 children is allowed. The restrict under part 10 for youngster training allowance is Rs. one hundred per baby per 30 days.
Aside from Part 80c,Children’s schooling allowance as much as Rs. 100 per thirty days per youngster for a maximum of two children and Hostel expenditure allowance of Rs. 300 monthly per child for a most of two kids is exempt from Income Tax. Hence 1200 only declare in this 12 months. Nonetheless since part of the allowance pertains to previous yr you may claim reduction under Section 89(1).
All taxpayers which arrange an undertaking or enterprise for production or manufacture of any article or thing in any notified backward area in the state of Andhra Pradesh, Bihar, Telangana or West Bengal. ClearTax affords taxation & monetary options to individuals, companies, organizations & chartered accountants in India. ClearTax serves 1.5+ Million joyful prospects, 20000+ CAs & tax consultants & 10000+ businesses across India.
Kids Training Allowance: one hundred monthly per baby up to a maximum of two youngsters. eighty C PERMITS TUTION FEES PAID AS DEDUCTION UPTO RS ONE LAKH PER ANNUM (MAXIMUM DEDUCTION CLUBBED WITH ALL eighty C DEDUCTIONS). Find out how to Enter Info on Children? Please be aware that exemption on Youngsters Education Allowance will be claimed only if your employer pays you kids training allowance.