The deductions from Salary for Financial Year 2013-14

The deductions from Salary for Financial Year 2013-14 are the following:

(Frwd Mail)

1.       Entertainment Allowance:

Entertainment Allowance deduction can be claimed from salary income. Entertainment Allowance is first included in the salary of the employee and a deduction is allowed for Government employees 

Deduction u/s. 80C for tuition / school fees paid for education of children Who is Eligible

Deduction u/s. 80C for tuition / school fees paid for education of children

Who is Eligible: Deduction for tuition fees u/s. 80c of the Income Tax Act1961 is available to Individual Assessee and is not available to HUF.

Maximum Child: Deduction under this section is available for tuition fees paid on two children’s education. If Assessee have more then two children then he can claim tuition fees paid of only two children’s. The Deduction is available for any two children.