S 80d
This query is : Resolved
Rakesh Agarwal
(Querist)
14 May 2012
If a person (resident) age 60 Years 2011-12 FY. invest 18000 in mediclaim, how much deduction is available?
Direct Tax Law - Practice Manual - A.Y. 12-13 Under Chapter 15 Page no. 15.2, Ans is given as 15000/-.
Direct Tax Law - Practice Manual - A.Y. 12-13 Under Chapter 15 Page no. 15.2, Ans is given as 15000/-.
CA PARAS BAFNA
(Expert)
14 May 2012
The Answer given is correct as in Explanation to Section 80D, age limit for a senior citizen is of 65 years for the AY 2012-13. In the recent budget amendment has been made and now from AY 2013-14, age will be 60 years or more.
.
.
Message likes :
1 times
CA PARAS BAFNA
(Expert)
14 May 2012
The Answer given is correct as in Explanation to Section 80D, age limit for a senior citizen is of 65 years for the AY 2012-13. In the recent budget amendment has been made and now from AY 2013-14, age will be 60 years or more.
.
.
Rakesh Agarwal
(Querist)
14 May 2012
Does defination of Senior Cccccitizen for basic exemption and for 80D is different?
As on the page no 15.3 it is given that Senior Citizen age for basic exemption was change in Finance Act 2011.
As on the page no 15.3 it is given that Senior Citizen age for basic exemption was change in Finance Act 2011.
Rakesh Agarwal
(Querist)
14 May 2012
Does defination of Senior Citizen for basic exemption and for 80D is different?
As on the page no 15.3 it is given that Senior Citizen age for basic exemption was change in Finance Act 2011.
As on the page no 15.3 it is given that Senior Citizen age for basic exemption was change in Finance Act 2011.
14 May 2012
Senior citizen for the purpose of Section 80D is defined in Explanation to Section 80D which defines senior citizen as an individual resident in India who is of the age of sixty-five years or more at any time during the relevant previous year.
Message likes :
1 times
Mihir Doshi
(Expert)
14 May 2012
This is the irony of our Taxation act as the same word "Senior Citizen" has been defined differently in two different sections of the same Act.
Section 80D - 65 years for filing of return Senior citizen is 60 years.
Section 80D - 65 years for filing of return Senior citizen is 60 years.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst credit note by supplier
- Missed uploading GST Invoice
- Due date for filing return for the partner in partnership subjected to Tax Audit
- GST on reimbursement of expenses
- Query on effect of registration of property
- Equity Share Sale and Purchase
- Whether output tax is taken credit by purchaser
- Wrong CMPo8 file
- Additional trade name
- Visiting card purchase
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
