What Deduction is Allowable For Persons Spending on Relative Suffering From Cancer ?
March 3, 2010 by taxworry · Leave a Comment
Can any Govt. staff member’s Medical Reimbursement of Blood Cancer of son should deducted from income tax? Is there any tax exemptions for the same? Pandit Shashank , Kolahpur
Yes, u/s 80DDB a person who spends on his spouse, children, parents, brothers and sisters of the individual or any of them who are suffering from malignant cancer or hemophilia or thalasaeimia can claim
- deduction of Rs 60,ooo in case patient is 65 years or more
- in case of patient below 65 years , Rs 40,000
What are other requirement?
The certificate from Oncologist having a Doctorate of Medicine (D.M.) degree in Oncology or any equivalent degree which is recognised by the Medical Council of India; and working in Government Hospital to be furnished along with the return of income shall be in Form No. 10-I
What if You Get Reimbursement from emplyer or insurance amount?
In that case , the deduction will be determined by total expense minus the reimbuirsement or insurance amount to the maximum of Rs 40,000 or Rs 60,000 as the case may be.
Whether you should kepp the evidence of expenditure?
Yes, the word used in section 80DDB is “actually paid” which means that this deduction is conditional to payments
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