ITR Filing: The date of filing ITR is very close. 31st July is the last date for filing ITR. It would be better if you keep information about all the exemptions available under the Income Tax Act before the deadline. Do you know that deduction can be claimed on the expenses incurred on the treatment of a disabled person under the Income Tax Act.
ITR Filing: A taxpayer gets many exemptions under the Income Tax Act. With these exemptions, the tax burden can be reduced. The date of filing ITR is very close. 31st July is the last date for filing ITR. It would be better if you keep information about all the exemptions available under the Income Tax Act before the deadline. Do you know, deduction can be claimed on the expenses incurred on the treatment of a disabled person under the Income Tax Act. Under the Act, deduction can be claimed not only on the treatment of a disabled taxpayer but also on the treatment of a family member of the taxpayer.
Tax exemption on treatment of disabled
The tax exemption on treatment of disabled comes under two sections-
- Section 80DD
- Section 80U
Section 80DD
Under Section 80DD of the Income Tax Act, tax deduction can be claimed on the medical expenses incurred on the treatment of a disabled member of a Hindu Undivided Family (HUF). Not only this, if a special insurance has been taken for the disabled member of the family, then deduction can also be claimed on the premium.
How much exemption will be available
- In case of general disability, a deduction of Rs 75,000 can be claimed annually.
- In case of severe disability, a deduction of Rs 1,25,000 can be claimed annually.
Who will be considered family members
For this exemption, the husband/wife, children, parents, sister and brother are included as the family of the taxpayer. In the case of HUF, any member of the HUF will be included.
Section 80U
Under Section 80U of the Income Tax Act, a disabled taxpayer can claim deduction. However, for this deduction, the disability must be certified by a medical authority. Under this section, exemption can be obtained for severe disabilities like Autism, Cerebral Palsy.
How much exemption will be available
- In case of normal disability, a deduction of Rs 75,000 can be claimed annually.
- In case of severe disability, a deduction of Rs 1,25,000 can be claimed annually.
What are the things required for tax deduction
- It is necessary to have a medical certificate for deduction.
- For this deduction, Form 10-IA has to be filed.
Also Read-
- ITR Filing: Download Form 16A from the website of SBI, HDFC Bank, ICICI Bank, know process
- Post Office RD Calculation: How much benefit will you get on RD of ₹ 2000, ₹ 3000 and ₹ 5000 in post office, know here
- Post Office RD Calculation: How much benefit will you get on RD of ₹ 2000, ₹ 3000 and ₹ 5000 in post office, know here
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