(31 Jan 2024, 18:14)

Children's education allowance exemption needs to be raising says ASSOCHAM

The Associated Chambers of Commerce of India (ASSOCHAM) in its pre-budget recommendation to the Finance Ministry has given suggestions to be incorporated in the upcoming budget with the aim of making it easier for the women to join the workforce, according to media reports. Recommendations included the raising of exemption allowed on children's education allowance from the existing limit of Rs. 100 per child per month to Rs. 1000 per child per month up to two children and similarly raising the exemption limit of hostel expenditure allowance to Rs. 3000 per child per month from the existing Rs 300 per child per month. Rationale behind is that these limits were set in the year 1988-89 in line with the cost of education and market prices of that time which needs to be updated as more than 25 years have been passed since then.

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Children's education allowance exemption needs to be raising says ASSOCHAM