Children Hostel allowance exemption under section 10(14)ii read with 2BB, Income Tax

[Subhash Kumar]

What is the basic conditions to avail the exemption of children hostel allowance.

Is stay in the hostel is compulsory to avail the exemptions.

Is any expenditure is required to avail the exemption of children hostel allowance.

I have received Children education & hostel allowance @ ₹ 400/- p.m. per child for three children. (Only one child is staying in the hostel) what amount is exempt for children hostel allowance?