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trIs a tax benefit of AZN 50 applicable to a person who has one student child as a dependant?
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Is a tax benefit of AZN 50 applicable to a person who has one student child as a dependant?
According to Article 102.5 of the Tax Code, the taxable monthly income of one of the spouses who has at least 3 dependants, regardless of the degree of kinship, including students under the age of 23 studying full-time, is reduced by AZN 50.
However, this tax benefit does not apply to individuals who have only 1 dependant, even if that person is a full-time student under the age of 23.
Therefore, a working woman who has only one child as a dependant, and whose child is a 20-year-old full-time student, is not entitled to the AZN 50 tax benefit.
It should be noted that individuals receiving scholarships, pensions, or unemployment insurance payments (except for children), as well as individuals who are fully supported by the state in accordance with the legislation, are not considered dependants.
According to Article 102.5 of the Tax Code, the taxable monthly income of one of the spouses who has at least 3 dependants, regardless of the degree of kinship, including students under the age of 23 studying full-time, is reduced by AZN 50.
However, this tax benefit does not apply to individuals who have only 1 dependant, even if that person is a full-time student under the age of 23.
Therefore, a working woman who has only one child as a dependant, and whose child is a 20-year-old full-time student, is not entitled to the AZN 50 tax benefit.
It should be noted that individuals receiving scholarships, pensions, or unemployment insurance payments (except for children), as well as individuals who are fully supported by the state in accordance with the legislation, are not considered dependants.