Hi biswasji,
thank you for providing appropriate information.
with regards
Padmanabham Muppa.
----- Original Message -----
From: "Amiyo Biswas" <[email protected]>
To: <[email protected]>
Sent: Wednesday, February 24, 2010 12:09 PM
Subject: Re: [AI] regarding income tax exemption
Hello,
The amount is Rs. 75,000 u/s80DD. Here is the text of the act as I found
it at http://finmin.nic.in/
With Best regards,
Amiyo Biswas.
Cell: 91-9433464329
Deduction in respect of maintenance including medical treatment of a
dependant who is a person with disability.
80DD. (1) Where an assessee, being an individual or a Hindu undivided
family, who is a resident in India, has, during the previous year,
(a) incurred any expenditure for the medical treatment (including
nursing), training and rehabilitation of a dependant, being a person with
disability;
or
(b) paid or deposited any amount under a scheme framed in this behalf by
the Life Insurance Corporation or any other insurer or the Administrator
or the
specified company subject to the conditions specified in sub-section (2)
and approved by the Board in this behalf for the maintenance of a
dependant, being
a person with disability,
the assessee shall, in accordance with and subject to the provisions of
this section, be allowed a deduction of a sum of fifty thousand rupees
from his
gross total income in respect of the previous year:
Provided that where such dependant is a person with severe disability, the
provisions of this sub-section shall have effect as if for the words fifty
thousand
rupees, the words
24a
[seventy-five thousand rupees] had been substituted.
(2) The deduction under clause (b) of sub-section (1) shall be allowed
only if the following conditions are fulfilled, namely:
(a) the scheme referred to in clause (b) of sub-section (1) provides for
payment of annuity or lump sum amount for the benefit of a dependant,
being a person
with disability, in the event of the death of the individual or the member
of the Hindu undivided family in whose name subscription to the scheme has
been
made;
(b) the assessee nominates either the dependant, being a person with
disability, or any other person or a trust to receive the payment on his
behalf, for
the benefit of the dependant, being a person with disability.
(3) If the dependant, being a person with disability, predeceases the
individual or the member of the Hindu undivided family referred to in
sub-section
(2), an amount equal to the amount paid or deposited under clause (b) of
sub-section (1) shall be deemed to be the income of the assessee of the
previous
year in which such amount is received by the assessee and shall
accordingly be chargeable to tax as the income of that previous year.
(4) The assessee, claiming a deduction under this section, shall furnish a
copy of the certificate issued by the medical authority in the prescribed
form
and manner
25
, along with the return of income under
section 139
, in respect of the assessment year for which the deduction is claimed:
Provided that where the condition of disability requires reassessment of
its extent after a period stipulated in the aforesaid certificate, no
deduction
under this section shall be allowed for any assessment year relating to
any previous year beginning after the expiry of the previous year during
which
the aforesaid certificate of disability had expired, unless a new
certificate is obtained from the medical authority in the form and manner,
as may be
prescribed, and a copy thereof is furnished along with the return of
income.
Explanation.For the purposes of this section,
(a) Administrator means the Administrator as referred to in clause (a) of
section 2 of the Unit Trust of India (Transfer of Undertaking and Repeal)
Act,
2002 (58 of 2002)
26
;
(b) dependant means
(i) in the case of an individual, the spouse, children, parents, brothers
and sisters of the individual or any of them;
(ii) in the case of a Hindu undivided family, a member of the Hindu
undivided family,
dependant wholly or mainly on such individual or Hindu undivided family
for his support and maintenance, and who has not claimed any deduction
under
section 80U
in computing his total income for the assessment year relating to the
previous year;
(c) disability shall have the meaning assigned to it in clause (i) of
section 2
27
of the Persons with Disabilities (Equal Opportunities, Protection of
Rights and Full Participation) Act, 1995 (1 of 1996)
28
[and includes autism, cerebral palsy and multiple disability referred to
in clauses (a), (c) and (h) of section 2 of the National Trust for Welfare
of Persons
with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities
Act, 1999 (44 of 1999)];
(d) Life Insurance Corporation shall have the same meaning as in clause
(iii) of sub-section (8) of
section 88
;
(e) medical authority means the medical authority as referred to in clause
(p) of section 2
29
of the Persons with Disabilities (Equal Opportunities, Protection of
Rights and Full Participation) Act, 1995 (1 of 1996)
30
[or such other medical authority as may, by notification, be specified by
the Central Government for certifying autism, cerebral palsy, multiple
disabilities,
person with disability and severe disability referred to in clauses (a),
(c), (h), (j) and (o) of section 2 of the National Trust for Welfare of
Persons
with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities
Act, 1999 (44 of 1999)];
(f) person with disability means a person as referred to in clause (t) of
section 2
29
of the Persons with Disabilities (Equal Opportunities, Protection of
Rights and Full Participation) Act, 1995 (1 of 1996)
30
[or clause (j) of section 2 of the National Trust for Welfare of Persons
with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities
Act,
1999 (44 of 1999)];
31
[(g) person with severe disability means
(i) a person with eighty per cent or more of one or more disabilities, as
referred to in sub-section (4) of section 56 of the Persons with
Disabilities
(Equal Opportunities, Protection of Rights and Full Participation) Act,
1995 (1 of 1996)
32
; or
(ii) a person with severe disability referred to in clause (o) of section
2 of the National Trust for Welfare of Persons with Autism, Cerebral
Palsy, Mental
Retardation and Multiple Disabilities Act, 1999 (44 of 1999)
32a
;]
(h) specified company means a company as referred to in clause (h) of
section 2
33
of the Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002
(58 of 2002).]
----- Original Message -----
From: "padmanabham" <[email protected]>
To: <[email protected]>
Sent: Tuesday, February 23, 2010 9:38 PM
Subject: [AI] regarding income tax exemption
Hello list members,
most of us know that section 80u of income tax has been amended.
accordingly the tax relief has been enhanced from 75000 to 100000.
But I want know is there any enhancement under section 80dd of income
tax? if anybody knows please let me know the details.
thanks in anticipation
Padmanabham Muppa.
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