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Tax deduction for Legal Fees?

Will i get a Income Tax Deduction on Fees paid for my Master Degree?

  • I joined ICFAI Universities MCA course and paid nearly 50 thousand rupees. Will this be eligible for Income tax deduction? Thanks.

  • Answer:

    no if u if u have no income

Muralidhar M at Yahoo! Answers Visit the source

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No. Deduction to only tution fees of children is allowed under the provisions of Income Tax Act.Pls refer to www,allindiantaxes.com for Act and provisions,

taxpert

Yes only if you satisfies following conditions : 1. Confirm that ICFAI is recognised by govt of India as a College or university 2. Rs 50000 paid by you was charged by ICFAI under tuition fee. 3.Your father made the payment of rs 50000 out of taxable income of the year in which such payment was made. If all the three conditions are fulfilled, claim the deduction from your FATHER income.

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