Education allowance - sub-clause (i) of clause (14) of section 10

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  1. ZED

    ZED Well-Known Member

    Yeah that's correct. See which ITR form would be applicable to you.
    Are you filing a belated return for the financial year 2014-15 ?
    For this financial year , lot of months are left.
     
  2. samniftian

    samniftian New Member

    Hi Zed,

    In continuation of our discussion, Please find below the certificate draft for this purpose. Please let me know if this is fine.

    As per our offer letter dated 00/00/00 and your acceptance for the same, we are releasing the payment of Rs xxx/- vide XXX Bank cheque no. 11111 dated 00/00/00.

    Please not this is a onetime payment/bonus and does not represent compensation for past, present or future employment services nor does it represent remuneration for services.

    This is solely for the purpose of settling the sponsorship dues towards academic, research and training pursuits at XYZ institute.
     
  3. ZED

    ZED Well-Known Member

    It looks fine but to be on more safer side, I am doing certain modifications.

    1. Use the word "payment" only and do not use the word "bonus" , or any other word.
    (As per S.16, salary includes bonus. I just wish to avoid that word for this reason.)

    2. Replace "This is solely for the purpose of settling the sponsorship dues towards academic, research and training pursuits at XYZ institute." by
    "This payment is solely for the academic, research and training pursuits at XYZ institute, an educational (and/or) research institution."
    (further after the end of the above statement you can add "as envisaged under sub-clause e of the clause (i) to the subsection 14 of the section 10 of the Income Tax Act, 1961)

    3. After the word "remuneration" , insert the words "or any other consideration" .

    4. Correct the spelling mistakes.
     
    Last edited: Apr 5, 2016
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