Deduction u/s. 80C for tuition / school fees paid for education of children
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.
Expenditure paid for self education not allowable: –This is the only clause u/s 80C where assessee can not claim tax benefit for expenditure incurred for self. In other words if assessee has paid tuition fees for his own studies, he will not be eligible for deduction.
Fees paid for spouse:Deduction is not available for tuition fees paid for studies of spouse.
Maximum Limit: Deduction for tuition Fees is available up to Rs. 100000 (Rs. 1.50 Lakh from A.Y. 2015-16). Please Note that aggregate amount of deduction under section 80C , 80CCC and 80CCD shall not exceed Rs. 1,00,000/- (Rs. 1.50 Lakh from A.Y. 2015-16).