Deduction under section 80DDB of income tax
This query is : Resolved
Surajit Bhattacharya
(Querist)
20 July 2024
Suppose, in an FY, a senior citizen cancer patient makes expenditure of Rs. 4.5 lakh for his medical treatment out of which, Rs. 4 lakh is reimbursed from insurance company. Can he claim the rest amount i.e. Rs. 50k (i.e. 4.5 lakh - 4 lakh) for deduction u/s 80DDB of Income Tax? Or he can't do so since reimbursed amount (i.e. Rs. 4 lakh) is more than max. deduction limit (i.e. Rs. 1 lakh) under the said section?
CA R SEETHARAMAN
(Expert)
22 July 2024
He can claim Rs 50k for deduction u/s 80DDB, it's within the limit of 1 lac.
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