Paying tuition fees for your child? You can claim this much tax benefit - Here’s how

To ensure better future, parents are always ready to go extra mile for their children. They try to provide the best possible education to their children and even invest in extracurricular activities for their children. Right education help the kids to build a successful career. And, to support their children achieve their goals in lives, parents also send them for tuition apart from schools, colleges, universities or institutions. Tuition is always helpful for students as they get to improve on weak areas. However, the cost is borne by parents. But not to worry, the Income Tax department gives relief to salaried individuals who are paying tuition fees for their children. 

According to the department, under section 80C of Income Tax Act, deduction for payment of Tuition fees is available only to an Individual assesse and not to a HUF assesse. The deduction is available for any sum paid as tuition fee for full time education of his/her children. 

These deductions are available for sum paid as tuition fee for full time education of his/her children. However, the deductions can be claimed for maximum two children. These shall include even adopted and step children. Also, there is no defined age limit of children for claiming deduction of tuition fees.

Sadly, this section does not allow deduction for payment made for the education of himself/herself (Individual assessee) or spouse or  any member of the HUF. 

The section includes tuition fees made to any university, college, school or other educational institution situated within India. Also, payment made for the purpose of full-time education of any of the persons specified in sub-section (4).

Under section 80C, the deduction is available only to an Individual or a Hindu Undivided Family (HUF) and deduction does not exceed Rs 1,50,000 during a previous year. Hence, for tuition fees, maximum Rs 1.50 lakh tax benefit can be claimed.