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Is tuition fee eligible for deduction under Section 80 C?

Asked 2018-11-30 02:17:19 by Gangadhar Sitawar

Answered by NewsBytes

Yes, individual taxpayers paying any tuition fees for the education of their children can claim deduction under Section 80C. The deduction can be claimed by an individual for a maximum of 2 children. The maximum deduction amount in a financial year is Rs. 1.5 lakh per individual under the section.

How to invest in NPS? What is the investment limit?

Asked 2018-11-29 19:14:47 by Amitava Mazumdar

Answered by NewsBytes

National Pension System (NPS) is one of the most popular pension plans and an excellent tax-saving option. The minimum contribution amount is Rs. 6,000/financial year (Tier-I accounts); there is no upper limit. To open NPS account, one can visit Points of Presence, including many public/private banks and financial institutions. Or, one can also open an NPS account online by visiting the eNPS portal.

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