Education Allowance

Any education allowance you received for your children will be exempted to the extent of following; Rs. 100 per month per child up to a maximum of 2 children to meet the cost of education and Rs. 300 per month per child up to a maximum of 2 children as hostel expenditure. If you have twins after the first child then you will be eligible for all of your three children … [Read more...] about Income Tax Liability On Your Education Allowance