(F) Deduction In Respect Of Maintenance Including Medical Treatment Of Handicapped Dependent — Section 8ODD

Section 8ODD provides that the parents or guardian could claim a deduction upto Rs. 50,000 for the medical treatment and for future needs of the medical treatment by paying or depositing under any scheme of LIC of UTI for the maintenance of the handicapped dependant, in the manner most suited to his needs. This is subject to certain provisions regarding taxation of the amount in case the handicapped dependant pre-deceases the individual or the member of the HUF.

Higher education would be allowed to persons with severe disability. For this purpose the definition of disability would be as mentioned in clause (t) of Section 2 of the Persons with Disabilities (Equal Opportunities, Protection of Rights and Full Participation) Act, 1995.


To mitigate the hardship of guardians of a dependant person it is now provided in the law to allow full deduction of the amount of 50,000 to remove eventuality of insistence by the Assessing Officer to produce evidence regarding the expenditure. Thus, this deduction would be allowable where the assessee has incurred any expenditure or made a payment in the LIC or UTI specified schemes. The deduction in the case of a dependent person with severe disability would be
` 1,00,000.

 

The Finance (No.2) Act, 2004 has extended the scope of deduction to cover 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.

 

 

More Topics ...
Chapter VIA - In The Income Tax Act.
Deduction on Contributions To Certain Pension Funds- Sec.8OCCC
Deduction on Donations To Charitable Trust, Certain Funds,-Sec.-80G
Deduction In Respect Of House Rent - Section 8OGG
Section 8ODD: Deduction In Respect Of Medical Treatment Of Handicapped Dependent
Section 80D: Deduction In Respect Of Medical Insurance Premia
Deduction In Respect Of Medical Treatment Of Terminal Ailments, Etc. -Section 8ODDB
Section 8OCCF - Deduction In Respect Of Subscription To Long-Term Infrastructure Bonds
Section 80U- Deduction towards Permanent Physical Disability (Including Blindness)
Deduction Of Interest On Loan Çor Higher Studies-Section 80E
Deduction U/S 88CCD:Contribution to Pension Scheme of Central Govt.
DEDUCTION U/S 80C
 
 
GST (India)
F.A.Q. on GST
GST Forms Download
GST Compensation Law
GST Enrollment Process
GST Law & Act.
GST Rules
GST Schedule ( I to V )
IGST Law & Act.
GST A Practical Knowledgebase
Filing GST Return
Enroll & Registration with GST
GST Office Tool to File GST Return
LIBRARY @ Tax Management
TAX & INVESTMENT GUIDE FOR "NRI"- Non-Resident Indians !
GUIDE & FAQ @ TAX
GRAPHICAL PRESENTATION @ TAX
TIPS & TRICKS @ TAX
MANAGERIAL & FINANCIAL DECISIONS @ TAX
5 GOLDEN RULES OF TAX PLANNING
FAMILY TAX PLANNING
DEDUCTIONS FROM YOUR INCOME
EXEMPTED INCOMES
HUF - FORMATION, MANAGEMENT & TAX PLANNING
COMPUTATION OF GROSS TOAL INCOME
INCOME TAX @ GLANCE
MULTIPLE KNOWLEDGEBASE ON TAX
51 TIPS ON TAX PLANNING
APPEALS UNDER INCOME TAX
ASSESSMENTS
PENALTIES UNDER IT DEPATMENTS
TAX SAVING SCHEMES
TAX READY RECKONER
TAX RATES
PROSECUTIONS UNDER INCOME TAX DEPARTMENT
TAXATION SYSTEM IN INDIA
CHARITABLE & RELIGIOUS TRUST - TAXATION
PRESCRIBED FORMS WITH with Section / Rules
TAX @ KNOWLEDGE BASE !

Most Popular Links :

Clubing of Income Deduction U/s 80C
Allowances Us-17(3) Exemption-Salary
Tax Amendment-2015 Taxable Income
Clubing of Income Tax Deductions
HUF Deduction HUF Investment
Gift by HUF HUF Tax Planning Tips
Tax Saving Schemes Tax Planning Tips
Refund of Tax Fringe Benefit Tax-FBT
Return Filing Assessment / Scrutiny
Notice from I.T. Dept. Incomes Types @ TDS
Exemptions-Tax Returns “Summon” U/s 131
'Black Money' @ I.Tax Big Gifts To Be Taxed
'Appeals' under I.Tax Assessment @ I.Tax
Exempted Incomes Capital Gain
Business & Professions House Property
Salaries @ I.Tax Partnership Firm
'Penalty' under I.Tax Act. Tax Ready Reckoner
Charitable Trust Useful Links @ I.Tax
 
Guide & FAQ on Tax Knowledgebase @ Taxation Income Tax @ Glance HUF - Formation, Planning & Taxation
Charitable & Religious TRUST NRI (Tax Planning,Saving,Investemnt) Tax Tutorials GST (FAQ, Law, Act. Rules, Schedule, Enrollment)
FAQs - Income Tax India    

Disclaimer:
All efforts are made to keep the content of this site correct and up-to-date. But, this site does not make any claim regarding the information provided on its pages as correct and up-to-date. The contents of this site cannot be treated or interpreted as a statement of law. In case, any loss or damage is caused to any person due to his/her treating or interpreting the contents of this site or any part thereof as correct, complete and up-to-date statement of law out of ignorance or otherwise, this site will not be liable in any manner whatsoever for such loss or damage.

The visitors may click here to visit the web site of Income Tax Department for resolving their doubts or for clarifications

Tally.ERP9 Book Online Order Tally.ERP9 Book Content