Education allowance is exempted for a maximum of ______.

One child

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Two children

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Three children

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Four children

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Solution

The correct option is B Two children
In respect of education, a parent can claim a deduction on the amount paid as tuition fees to any university, college, school or any other educational institution. Only tuition fees that forms part of the total fees paid is allowed for deduction.
The maximum deduction on payments made towards tuition fee can be claimed up to Rs 1.50 lakh together with the deduction in respect of insurance, provident fund, pension etc. in a financial year.
It can only be claimed in respect of two dependent children and for fees paid to an educational institution, college or school.

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