Sec 80 DD
This query is : Resolved
22 July 2011
Maintenance & treatment of dependent with disability. severe Rs. 1,00,000/- Is it irrespective of expenditure or is it only if amount is paid? Manoharan & Singhania say irrespective of exp. Bare Act says paid (incurred) Please clarify.
CA PARAS BAFNA
(Expert)
22 July 2011
The act says as under -
1. 80DD (a) incurred ANY expenditure
2. 80DD (b) paid or deposited ANY amount .
3. the assessee shall be allowed a deduction of fifty thousand from his gross total income.
.
******
.
Does the act say -
1. Any expenditure incurred in excess or less than Rs. 50000 is allowable?
2. Paid or deposited any amount above or below Rs.50000 is allowable ?
3. The assessee shall be allowed a deduction of Rs. 50000/-
.
or
.
the expenditure incurred or amount paid or deposited, whichever is less or more?
Answer to all the 3 questions is - "NO".
Conclusion- 50000/ or 100000/ is allowable irrespective of the amount spent or deposited.
1. 80DD (a) incurred ANY expenditure
2. 80DD (b) paid or deposited ANY amount .
3. the assessee shall be allowed a deduction of fifty thousand from his gross total income.
.
******
.
Does the act say -
1. Any expenditure incurred in excess or less than Rs. 50000 is allowable?
2. Paid or deposited any amount above or below Rs.50000 is allowable ?
3. The assessee shall be allowed a deduction of Rs. 50000/-
.
or
.
the expenditure incurred or amount paid or deposited, whichever is less or more?
Answer to all the 3 questions is - "NO".
Conclusion- 50000/ or 100000/ is allowable irrespective of the amount spent or deposited.
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