Tuition Fees Archives - CENTRAL GOVERNMENT EMPLOYEES NEWS

Budget 2014 – CII suggests raising 80C deductions to Rs. 2.5 Lakhs

admin — Thu, 19 Jun 2014 09:22:26 +0000

Budget 2014 – CII suggests raising 80C deductions to Rs. 2.5 Lakhs

In its Pre-Budget wish list regarding Income Tax 80C, the Confederation of Indian Industries (CII) has suggested to the Finance Ministry that the consolidated deduction under 80C be raised from Rs. 1 lakh to Rs. 2.5 lakhs.

Most Central Government employees have savings schemes that are linked with General Provident Fund. Under this scheme, the employee not only gets interest for the money saved, but also enjoys the option to withdraw the money whenever required. The money is also entitled to exemption under Section 80C. It has to be mentioned here that new employees (appointed on or after 2004) do not have this option.

If the Income tax deduction is raised from Rs. 1 lakh to Rs. 2.5 lakh under Section 80C, then there are possibilities that savings will increase among the employees.

It has to be mentioned that CII has suggested that a separate section be created for Tuition fees (Children Education Allowance). Although the allowance given for the higher education of the children is exempted from income tax under Section 80C, the Rs. 1 lakh exemption is considered to be very low. Now a amount of one lakh is exempt form income tax for all long and short term saving schemes including General Provident Funds.

CII has also suggested that the Rs. 1.5 lakh exemption being granted for house loan interests should be raised to Rs. 5 lakhs under Income Tax Section 24 for self-occupied property.

Source: CGEN.in
[http://centralgovernmentemployeesnews.in/2014/06/budget-2014-cii-suggests-raising-80c-deductions-to-rs-2-5-lakhs/]

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Will 7th CPC Add Lustre to the CHILDREN’S EDUCATION ALLOWANCE SCHEME?

admin — Tue, 06 May 2014 10:13:10 +0000

Will 7th CPC Add Lustre to the CHILDREN’S EDUCATION ALLOWANCE & HOSTEL SUBSIDY SCHEME?

It was only in the 6th CPC that the CHILDREN’S EDUCATION ALLOWANCE & HOSTEL SUBSIDY was introduced to Central Government employees with new face..! Prior to this, the scheme was being granted in a simple form as Tuition Fees. From Rs. 30 to 40 per month, the scheme was revamped much to the excitement of the Central Government employees, and earned their appreciation.

One could see that the scheme, launched in the nation’s interest and with the intention of attaining higher standards in the field of education and literacy, had succeeded.

Under this scheme, Central Government employees were now eligible to refund the educational expenses of Rs. 1000 per month per child, for two children, adding up to Rs. 12,000 per annum per child. By submitting original receipts for the expenses incurred for the education of their children from Kindergarten, right up to Class XII, the employee could claim a maximum reimbursement of Rs. 12,000 per year. The scheme was applicable for two children, at the most.

As a result, Central Government employees began sending their children to only the best schools. It wouldn’t be an exaggeration to say that the scheme was a big boon for Central Government employees living in small and medium-sized towns and cities.

In addition to this, a recommendation was made to raise the Dearness allowance by 50% each time, the allowances and advances also revised by 25%. As a result, from 01.01.2011, from Rs. 12,000 per annum, it has increased to Rs. 15,000 each year. And now the Children Education Assistance once again revised by 25% from 1.1.2014.

Even though there were some procedural difficulties in implementing these schemes, they were generally welcomed by all. A Glittering Diamond in 6th CPC’s Crown

Everybody is eagerly waiting to see how this scheme, which was introduced for the betterment of the future generation, is going to be handled by the 7th CPC.

Let’s see the scheme highlights…

Applicable to all Central Government Employees without any pay limit…

Child means, employee’s child, wholly depends on the employee…

Reimbursement is admissible only if the children study in a recognized school…

If both(husband&wife) are working, reimbursement will be allowed to one of them…

Reimbursement is allowed for two eldest surviving children only, accepted in case of multiple birth in second child birth…

Children from nursery to twelth and two years diploma course in polytechnic…

Nursery means, two classes prior to class 1 irrespective of nomenclature…

Even if a child fails, reimbursement shall not be stopped…

Reimbursement of school bags, pens and pencils are not allowed…

Age limit for claiming reimbursement for children is 20 years…

Source: 90pasisa.blogspot.in
[http://90paisa.blogspot.in/2014/05/will-7th-cpc-add-lustre-to-children.html]

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No increase in Tuition Fee in KV Schools – Proposal to enhance VVN

admin — Wed, 13 Mar 2013 16:44:52 +0000

No increase in Tuition Fee in KV Schools – Proposal to enhance VVN

The Minister of State for Human Resource Development Shri.Shashi Tharoor stated in the Parliament that there is no proposal to increase the tuition fee in Kendriya Vidyalayas (KVs). However, there is a proposal to enhance the Vidyalaya Vikas Nidhi (VVN) contribution and the computer fund fee.

He replied to some supplementary questions regarding this subject, ‘ A total of 73% of the students in the KVs are the wards of Government employees (Central Government, State Government, Central Autonomous Bodies and State Autonomous Bodies) and they are eligible for reimbursement upto Rs.1250/- per month for each child under the Children Education Allowance scheme of the Government of India.

Pursuant to the implementation of the Right to Education (RTE) Act in the Kendriya Vidyalaya Sangathan (KVS) w.e.f. 1.4.2011, the students admitted under the provisions of the RTE Act are exempted from the payment of fees and provided reimbursement of expenditure incurred towards text books, note book, uniform and transportation.

The students belonging to families living below the poverty line category and studying in the KVs are exempted from payment of tuition fees and VVN fund contribution upto two children per family. In addition, there exists a provision to extend financial assistance to children who are in distress. There is also a provision to give concession to those students whose parents / guardians are not in a position to pay full tuition fee.

The following additional facilities may be provided to further improve the level of education in the KVs:-

(i) Establishment of e-classrooms.

(ii) Improvement in sports infrastructure.

(iii) Modernizations of Science laboratories, etc’.

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