Deducted Tax Prakash, 30 Apr 2013

Hi My tax deductions for this year will be around 10K. If i show my kids school fees of around 50K will that help in saving this deduction.

Fintotal Answer

Yes it will qualify. Not entire school fees would; only tution fee is deductible. Also if Rs 10,000 is expected to be deducted then your income exceeds the non-taxable income limit by about Rs 1 lakh. You can check http://www.knowledge.fintotal.com/Income-Tax-Deductions-Financial-Year-2012-13/709 for list of more deductions you can avail.

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