How can a person claim tax benefits on payments made for children's education?
People can claim benefits on payments towards tuition fees and education loans for their children's education under Sections 80C and 80E, respectively. Taxpayers can claim deduction of up to ₹1.5 lakh per financial year for tuition fee payments for their children under Section 80C. Deductions up to 100% of interest paid on education loan can be claimed under Section 80E.