Please inform on deduction u/s. 80C of I T Act,1961. for Asst year 2006.07 and for 2007.08. 1. Whether the School fees / college fees/ tution class fees of son and daughter is allowed as deduction. 2. if any upper cap is there or upto 100000 it can be allowed.(Ealier limit was of 12000 per child) 3. similarly if there is any cap for housing loan repayment -principal(Earlier of Rs.20000)
In the case of the 85,000 loan for his wife's education, shouldn't it be allowed, as they are filing a joint return, and not a personal return in his name only?
