I joined ICFAI Universities MCA course and paid nearly 50 thousand rupees. Will this be eligible for Income tax deduction? Thanks.
2006-11-02 18:18:11 · 3 answers · asked by Muralidhar M 1 in Business & Finance ➔ Taxes ➔ India
no if u if u have no income
2006-11-02 22:56:57 · answer #1 · answered by mukku 3 · 0⤊ 0⤋
Yes only if you satisfies following conditions :
1. Confirm that ICFAI is recognised by govt of India as a College or university
2. Rs 50000 paid by you was charged by ICFAI under tuition fee.
3.Your father made the payment of rs 50000 out of taxable income of the year in which such payment was made.
If all the three conditions are fulfilled, claim the deduction from your FATHER income.
2006-11-04 02:25:20 · answer #2 · answered by q4tax 3 · 0⤊ 0⤋
No.
Deduction to only tution fees of children is allowed under the provisions of Income Tax Act.Pls refer to www,allindiantaxes.com for Act and provisions,
2006-11-04 00:18:18 · answer #3 · answered by Anonymous · 0⤊ 0⤋