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Tax Exemption on Children Educational Allowance - Income TaxExtract As per Rule 2BB of Income Tax Rules 1962 , Rs 100/- per month per child is eligible for exemption out of the Children Education Allowance received by an assessee employee. The assessee employee has drawn education allowance for his two children for two years (2010-11 2011-12) in the year 2011-12. My query is : whether the assessee employee is entitled to exemption of Rs 4800 ( Rs 100x2x 24) for 24 months in the F.Year 2011-12
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