METHODS OF RESEARCH
SURVEY RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Do you favor tuition tax credits as a way of alleviating educational problems?
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Do you support tuition tax credits?
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Do you believe tuition tax credits would, on the whole, have more desirable than undesirable consequences?
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Do you agree that tuition tax credits would not have negative effects?
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Detailed explanation-1: -The maximum deduction on payments made towards tuition fee can be claimed for up to Rs 1.5 lakh together with the deduction with respect to insurance, provident fund, pension etc., in a financial year.
Detailed explanation-2: -Sending kids to school has an inbuilt tax advantage for parents. This is because tuition fee qualifies for tax benefit under Section 80C of the Income-tax Act, 1961. The amount of tax benefit is within the overall limit of the section of Rs 1.5 lakh a year.
Detailed explanation-3: -The term tax benefit refers to any tax law that helps you reduce your tax liability. Benefits range from deductions and tax credits to exclusions and exemptions. They cover various areas, including programs for families, education, employees, and natural disasters.
Detailed explanation-4: -However, Indian schools located abroad are not eligible for tuition fee deduction under section 80 C of the income tax act. Income tax deduction benefits on school/college tuition fees can be only claimed for full-time courses.