2.Yes Only tution fee of the assesee Children is deductable upto the extent 12000/- 1 child and 24000/- for 2 Children.
3.Tution fee of Children is 80C Diduction where as repayment of education loan wiil fall u/s 80E.
4. Max limit for aggregate of 80C 80CCC & 80DDD is 100000/- Including PF, LIC, Children education fee mutualfunds Contrubution pension plan and ETC
Reg: Income Tax Return to be filed in July 08 for AY 2008-09 :
1) Ref "Educational fees" deductable : - yes
a) Is children's Edu-fees deductable from the Taxable income - yes up 24000
b) Is this deduction under 80-C, - yes
c) if so, the max deductable including LIC premium, is it Rs 24000