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.
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
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Tds on building rent monthly
- RCM INVOICING FROM NOV-2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
