maximum leave available duringthe articleship
This query is : Resolved
14 July 2009
Whether the full amount of Deduction Under Sec 80DD is available in case the person suffering from disability died during the year??
14 July 2009
hi...
I want to know maximum leave available during the my articleship period and also want to know maximum leave available in a year.
and i also want to know that any leaves i have taken for my CA exams are elligible for my total leaves available during the articleship.
I want to know maximum leave available during the my articleship period and also want to know maximum leave available in a year.
and i also want to know that any leaves i have taken for my CA exams are elligible for my total leaves available during the articleship.
15 July 2009
As per Sec 80DD if an assessee has incurred any expenditure for the medical treatment of a dependant being a person of disability, the assessee will get a deduction of Rs. 50,000/- from hi Gross Total Income. Again, if the same amount has been deposited under a scheme of LIC in this behalf than also he/she will get a deduction of Rs. 50,000/-.
So it is immaterial how much the assessee spends he /she will be getting a deduction of rs. 50,000/- only (read as Rs. 75,000/- if severe disability).
In this case if he/she has spend more or less he will get a deduction of Rs. 50,000/-.
However, if the money has been deposited in LIC and he/she is getting a refund from there than the refunded amount shall be taxable in the hands of the assessee.
So it is immaterial how much the assessee spends he /she will be getting a deduction of rs. 50,000/- only (read as Rs. 75,000/- if severe disability).
In this case if he/she has spend more or less he will get a deduction of Rs. 50,000/-.
However, if the money has been deposited in LIC and he/she is getting a refund from there than the refunded amount shall be taxable in the hands of the assessee.
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