Whenever I read IT act one question that always comes in my mind is wahat is the meaning of Dependent childrean/ parents while interpretig any of the provision. Take the Example of section 80d wherein 15000 is allowed if premium is paid for medical insurance of dependent children..CAn anyone tell me as to how do u define a dependent children/parents/ person?Further what do u understand by whoolly or partly dependent
POssible alternatives which i can think of are :
1.If they r minor
2.If they are major but unemployed
3.THey r major, employed but suffering from disesases specified u/s 80U.
Pls tell me the correct meaning
waiting for ue reply
Thanks in advance.