80c exemption

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Gangadurai

Gangadurai (Querist)

23 April 2014 can i know handicap person has any tax exemption for his expenses from his income?

Pradeep Shah

Pradeep Shah (Expert)

23 April 2014 You can get the deduction under section 80 U.

The Income Tax Act, 1961 provides deduction u/s. 80 in pursuance of which an individual (Indian citizen and foreign national) who is resident of India, and who suffers from not less than 40 per cent of any disability is eligible for deduction to the extent of Rs. 50,000/- and in case of severe disability to the extent of Rs. 100,000/-.
For availing deduction u/s. 80U, the assessee needs to fulfill certain legal formalities like he has to obtain a certificate from medical authority constituted by either the Central or the State Government, along with the Return of Income for the year for which the deduction is claimed.

CA Jitender Sharma

CA Jitender Sharma (Expert)

23 April 2014 u/s 80U - amount of deduction is Rs 50000/- and Rs 100000/- (as per disability)

u/s 80DDB for medical expenses for specified deceases (max amount is Rs 40000 or actual exp whichever is lower)

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