It is common knowledge that though a book is copyrighted, one can get it Xeroxed, the copies may be circulated in the class and the teacher may cite from it. The underlying principle behind these is the concept of fair dealing. What is fair dealing and what all it permits and allows, after evaluation on certain touchstones is something that is explored in this paper. In order to do that, firstly, the length and breadth of the Indian Copyright Act is measured in this regard on statutory and case law basis. And then all the concepts relating to fundamentals of Fair Use are dealt with, keeping in mind the economic and constitutional aspects. Keywords: Copyright, Fair Use, Education and Copyright, Economic Aspect of Copyright