section 80d

Income Tax Saving Under Section 80D, 80DD, 80DDB and 80U

Section 80 C is related to savings, Investment and retirement planning. While section 80 D and 80 U are related to health. Individuals saving money in Health insurance as well as making expenses in health related issue are covered under this section.

Section 80D: Premium Paid for Medical Insurance

Up to Rs. 25,000/- Deduction is available to a taxpayer for insurance of self, spouse and dependent children or 30,000/- in the case If individual or spouse is more than 60 years old

An additional deduction for insurance of parents is available upto Rs. 25,000/– if less than 60 years old and Rs 30,000 if parents are more than 60 years old.

For uninsured super senior citizens (more than 80 years old) medical expenditure incurred up to Rs 30,000 shall be allowed as a deduction under section 80D.

Suppose you and your wife are below 60 years age and either of your parent is above 60 year. Then you can get tax benefit for you, your spouse and dependent children upto Rs. 25000 and for your parents upto Rs. 30,000/ means you are eligible for tax deduction under section 80D is Rs. 55,000/-

Section 80DD: Rehabilitation of Handicapped Dependent Relative

Deduction is available on:

  1. Expenditure incurred on medical treatment, nursing, training and rehabilitation of handicapped dependent relative
  2. Payment or deposit to scheme for maintenance of dependent handicapped relative.

For 40% to 80% disability fixed deduction of Rs 75, 000 and for 80% or more disability fixed deduction of Rs 1, 25, 000 is available.

Section 80DDB: Medical Expenditure on Self or Dependent Relative

A deduction is available for expenditure actually incurred by resident taxpayer on himself or dependent relative for medical treatment of specified disease (listed in Rule 11DD).

For below 60 year Rs. 40,000/- or the amount actually paid, whichever is less

For senior citizen Rs 60,000/- or amount actually paid, whichever is less.

For very senior citizens Rs 80,000 is the maximum deduction that can be claimed.

Section 80U: Person Suffering from Physical Disability

Fix deduction of Rs. 75,000/- in physical disability or mental retardation.

Fixed deduction of Rs. 1,25,000/- in sever disability can be claimed(Rule 11D).

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