WebThe Government of India offers tax exemption of Rs.100 per child for a maximum of 2 children in a nuclear family for education purposes known as Children Education … WebNov 24, 2024 · Education Allowance Employees are entitled to children education allowance from their employers. Any amount received over Rs 100 per month per child will be taxable. This benefit can be extended to a maximum of two children. Books and periodicals Allowance

Provident Fund applicability on allowances - Deloitte

WebFeb 28, 2024 · Under Section 6 of the Act, the appellant was liable to pay contribution to the provident fund on basic wages, dearness allowance, and retaining allowance (if any). To exclude any incentive wage from basic wage, it should have a direct nexus and linkage with the amount of extra output. WebSection 10 (14) provides tax benefits of up to Rs 1200 per year per child for up to two children for educational expenses, including tuition fees. An individual taxpayer can … standen thermostaatknop

The Average Allowance for Kids - The Balance

WebJul 11, 2024 · Children Education Allowance: If you are receiving children education allowance from your employer then you are eligible to claim a tax exemption under the Income-tax Act. However, the … WebNov 10, 2024 · The limit under section 10 for child education allowance is Rs. 100 per child per month. So if you have 2 children you can claim deduction of Rs. 2400 per … WebNov 10, 2024 · Education allowance up to 2 children is allowed. The limit under section 10 for child education allowance is Rs. 100 per child per month. So if you have 2 children you can claim deduction of Rs. 2400 per year. Further if you child is staying in hostel, you can claim Hostel allowance up to Rs. 300 per month per child. standen house hampshire