Deepa (CA and CS Final B.Com University First) (195 Points)
27 December 20091.what is the difference between exemptions under 80DD and 80DDB.?
2.Can an assessee claim deduction under both the section if the dependent relative fulfils all conditions in both sections?
The difference between exemptions under 80DD and 80DDB:
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1. ELIGIBLE ASSESSES FOR CLAIMING DEDUCTION US 80DD AND 80DDB ARE INDIVIDUAL/HUF(RESIDENT).
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2. ELIGIBLE PAYMENT FOR DEDUCTION U/S 80DD ARE EXP. INCURRED FOR MEDICAL TREATMENT, TRAINING OR REHABILITATION OF A DEPENDENT( BEING A PERSON WITH DISABILITY) AND AMOUNT PAID OR DEPOSITED UNDER A SCHEME FRAMED BY LIC/UTI AND APPROVED BY CBDT.
ELIGIBLE PAYMENT FOR DEDUCTION U/S 80DDB ARE EXP. ACTUALLY INCURRED FOR THE MEDICAL TREATMENT OF FOR SPECIFIED DISEASE OR AILMENT.
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3. DEDUCTION U/S 80DD SHALL BE FIXED DEDUCTION OF RS. 50000 IRRESPECTIVE OF ACTUAL EXP. AND WHERE SUCH PERSON IS A PERSON WITH SEVERE DISABILITY OVER 80% THEN FIXED DEDUCTION OF RS. 75000.
DEDUCTION U/S 80DDB SHALL BE EXP ACTUALLY INCURRED OR RS. 40000 WHICHEVER IS LESS. IN CASE OF SENIOR CITIZEN RS. 60000 OR ACTUAL EXP. WHICHEVER IS LESS.
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Deepa
(CA and CS Final B.Com University First)
(195 Points)
Replied 27 December 2009
Thank you:-)
The assessee can claim deductions under both sections.
can the same be supported with the act or any case law?
Jayashree
(Accounts Manager)
(42 Points)
Replied 09 April 2010
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