WASHINGTON, D.C., Nov. 30--Russell E. Train, clerk of the House Ways and Means Committee, said here today that a bill giving parents unlimited exemptions on students' earnings "has an excellent chance of passing.'

Train, speaking for the Committee, said the bill, staff composed, already has the backing of the Treasury Department, and its chances of going through this January as part of a new comprehensive tax bill are good.

It will almost undoubtedly go into effect next year. The new bill has the backing of the Administration, according to Train.

The bill would allow children up to the age of 18 and anyone attending college to earn any amount of money without loss of dependency for the parent. Right now the limit of earnings is $599.

Pretty Much Agreed

"They've worked this new proposal over in Committee meetings and they're pretty much agreed on it. There may be some revision next January, but it probably won't have much trouble going through," Train said today.

Train emphasized that this proposal differs from the Multer Bill which is also being considered by the Ways and Means Committee.

This bill, sponsored by Representative Abraham Multer of New York, would grant parents complete deductions on all money they spend for students' education. According to Multer, although the bill will probably undergo revision, its chances of passage with the rest of the tax bill are very good.

"It was favorably received in open session and while they may make a few chances and next time they meet, it shouldn't have any trouble outside," Multer said.

The National Student Association, which is registered here in Washington as a lobbying agent, started agitation for some kind of tax relief last year, and has backed both the Multer Bill and the new proposal for easing the dependency regulations.

This fall it organized a study for student tax relief. Independent of this, the Ways and Means Committee incorporated a student motion into its own bill.