Business Studies, asked by vandanachaudhari2276, 3 months ago

Mrs. Madhuri is entitled to children
education allowance @ Rs.80 p.m. per
child for her 3 children amounting to
Rs.240 p.m. It will be exempt to the
extent of​

Answers

Answered by ajayrajurkar506
0

Answer:

Explnation:160

Answered by Anonymous
0

Given,

Mrs Madhuri is entitled to children education allowance @Rs 80 p.m. per child for 3 child

To Find,

How much of the education allowance is exempt

Solution,

As per the provision of the Income tax act,1961

When the assessee is has received children education allowance from his employer, will be exempt to the extent of 100 p.m or receiving amount whichever is less

So in this situation,

Children education allowance is exempt till Rs 100p.m or Rs 80 p.m whichever is less for 2 children

So, the amount exempt is Rs 80 p.m. for 2 children

i.e Rs 160

Hence, the amount exempted for 2 children is Rs. 160.

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