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Here is the Idea!!!
Guys!!I have a beautiful idea. I am planning to sponsor few children for their education. I need few more hands to execute this successfully.
Nothing is done without profit.
Here is our profit guys!!
You pay lots of taxes to government. Instead of paying to the government, sponsor a child for education.
Under 80 C Income Tax Section, Tax is exempted when you are sponsoring a child for education tuition fee.
You need not be a legal parent/guardian to get your tax exempted.
Refer Below for the clause:
Q. Can an unmarried person can claim deduction u/s 80C of Income tax Act, 1961 for school fee paid for 2 children?
Answer: Yes he can. As clause (c ) of subsection 4 of Section 80C only speaks of children’s of Individual. Section 80C is silent on legality of child and it does not say that child should be legal child.
Read more: http://www.taxguru.in/income-tax/deduction-us-80c-for-tuitionschool-fees-paid-for-education-of-children.html#ixzz0lK7vtVWh
I am soon gonna talk to Balaji Sir on this.
"When a man is hungry, instead of giving him a fish, teach him how to catch a fish"
"Education is best thing that one can give to another"
Way to go Guys and Gals!!!
Your Friend!!