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Deduction u/s 80DDB

Posted @ August 27, 2012, 12:07 am under (Payroll Outsourcing & Taxation)

Section 80 DDB for Treatment of Specified diseases

 

Following are the condition to avail Deduction Section 80 DDB for Treatment of Specified diseases

 

Available Deduction - For individual assesses less than 65 years of age, a deduction limit of Rs. 40,000 is applicable. For a senior citizen, the limit is Rs. 60,000.


 

Scope of Deduction - Deduction is applicable for treatment of self, spouse, children, siblings, and parents, wholly dependent on you.


 

Diseases covered


 

a) Neurological Diseases (where the disability level has been certified as 40% or more).

b) Parkinson’s Disease

c) Malignant Cancers

d) Acquired Immune Deficiency Syndrome (AIDS)

e) Chronic Renal failure

f) Hemophilia

g) Thalassaemia

 

Computation of deduction is as under :

Total expenditure            xxxxx

Less Insurance claim    xxxxx

Net Expenditure              xxxxx

 

 Certificate to be Obtained


 

To claim the deduction the assessee must obtain and retain a copy of certificate in the prescribed Form No.10-I  by a neurologist, oncologist, or such other specialist working in Government Hospital.


 

Note: If you are already receiving any reimbursement for the treatment from your insurance company or employer, deductions cannot be claimed. If you are receiving partial reimbursement, the balance amount can be used for a deduction.

                    

 

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