Children Education Allowance - 1st child 20/pm 2nd Child 90/pm 3rd child-4800 p.a. Compute the Taxability?

Question

KRISHNA · Answer

Total amount 6120 Less Exemption (2280) Taxable amount 3840

Janvi · Answer

Taxability is 3840. As exemption is allowed for any 2 children. So first take exemption from 3rd child 4800-1200= 3600 taxable Then 2nd child 90pm fully exempt So taxable amount is 3600 +20*12=240

Supriyo · Answer

Exempt amount - 2280 Taxable amount - 3840

Supriyo · Answer

Both of your answers are incorrect.

Roshan · Answer

Total CEA received is 6120 Less exemption 2*100*12 =2400 Taxable CEA IS 3720

Vijetha · Answer

Taxability is 4800 Because exemption limit is for only 2 childrens and allowance is less than the exemption limit so entire amount is exempt

Children Education Allowance - 1st child 20/pm 2nd Child 90/pm 3rd child-4800 p.a. Compute the Taxability?

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