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Children hostel allowance exemption in Income Tax

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Student CA asked over 1 year ago

I have received children education and hostel allowance @Rs500/-pm each for three children. If No child is staying in the hostel, Can I avail the exemption of Hostel allowance in Income tax return? any notifications /judgement /clarification plz tell me. Is staying in hostel is compulsary for availing the exemption of hostel allowance @Rs300/- per month per child maximum for two child.u/s 10(14)ii read with 2BB.

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23 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Tutor CA answered over 1 year ago

this would give you marks either way

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Tutor CA answered over 1 year ago

in exam you claim for number of children in hostel ie one and give a note what sec 10(14)(ii) says and why you chose to deduct for one person.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Student CA answered over 1 year ago

purpose

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Student CA answered over 1 year ago

exam

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Tutor CA answered over 1 year ago

or for practical purpose

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Student CA answered over 1 year ago

yes

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Tutor CA answered over 1 year ago

are you asking from exam point of view

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Student CA answered over 1 year ago

exemption

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Student CA answered over 1 year ago

what can I do to avail

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Tutor CA answered over 1 year ago

no right now I don't have any

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Student CA answered over 1 year ago

any relevance proof

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Student CA answered over 1 year ago

clarification

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Student CA answered over 1 year ago

regarding matter

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Student CA answered over 1 year ago

have u any judgement

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Tutor CA answered over 1 year ago

it is experts view that for hostel allowance you require proof

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Tutor CA answered over 1 year ago

but 10 (14) (ii) the explanations says you don't need any proof for allowances claimed under that clause

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Student CA answered over 1 year ago

receipt required for exemption

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Student CA answered over 1 year ago

in which rule notifications

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Tutor CA answered over 1 year ago

where as for hostel allowance you need receipt or proof of payment

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Student CA answered over 1 year ago

can I avail the exemption of hostel allowance?

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Tutor CA answered over 1 year ago

but in case of education allowance it can be claimed without any receipt

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Tutor CA answered over 1 year ago

for hostel allowance it is rs 300 per child per month.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Tutor CA answered over 1 year ago

education allowance rs 100 per child per month up to two children can be claimed.

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