Spend On Your Children and Get Tax Benefits


2. Expenditure on Tuition Fees

Most of the schools, colleges and universities in India have some fixed amount as tuition fees which the parents have to pay. If you are paying certain amount which is within 1 lakh, you are eligible to get tax deductibles under section 80C of the Indian constitution.

Tuition fees does not include charges like development fees, donation or any other with similar nature, that is paid either at the time of admission or thereafter.

Moreover, tax benefits are only applicable if your child is studying in schools, colleges or universities that are located in India.

However, one parent is eligible for tax deduction for only two dependent children and is only valid to the actual tuition fees paid. Both husband and wife have two separate limits of two children, so that each can claim for both the children.

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