Three types of income tax benefits available for education
Income tax benefit: It is important to note that the deduction is available only for tuition fee and other payments like any donation or as development fee by whatever name called paid are not eligible for this deduction
Education has potential to improve quality of life of individuals in geometric progression velocity. The government also provides certain reliefs to the tax payers in this respect. Let us discuss the benefits available under the income tax laws in India in connection with education.