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
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Answer:
Explnation:160
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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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