What is Rule 11dd of income tax?
Specified diseases and ailments for the purpose of deduction under section 80DDB.
What is Section 80 DDB?
Section 80DDB of Income Tax Act speaks of tax deductions for individuals and HUF in respect of medical expenses incurred for the treatment of specified diseases or ailments.
What diseases are covered under 80DD?
The disabilities which qualify for tax benefits under Section 80DD of the Income Tax Act include blindness, loco motor disability, low vision, mental illness, mental retardation, leprosy-cured, hearing impairment, cerebral palsy and autism.
Who can claim deduction under 80DDB?
One can claim the deduction for dependent family members such as spouse, children, and parents. The benefits are applicable only for the specified diseases under Section 80DDB.
Which of the following allowance is fully exempted?
Certain categories of taxes are fully exempted such as allowances given to judges at the Supreme Court and the High Courts. Allowances such as house rent allowance are partially exempted as per Section 10(13A). Other allowances such as city compensatory allowance are fully taxable.
Which income is exempted from income tax?
Income Exempt From Tax As Per Section 10
| Section 10(1) | Income earned through agricultural means |
|---|---|
| Section 10(13) | Any payment received through a Superannuation Fund |
| Section 10(13A) | House Rent Allowance |
| Section 10(14) | Allowances utilised to meet business expenses |
| Section 10(15) | Income received in the form of interest |
What is Section 80TTB?
Section 80TTB is a provision whereby a taxpayer who is a resident senior citizen, aged 60 years and above at any time during a Financial Year (FY), can claim a specified amount as a deduction from his gross total income for that FY. This section is applicable w.e.f 1 April 2018.
What is Section 80EEB exemption?
A deduction for interest payments up to Rs 1,50,000 is available under Section 80EEB. An individual taxpayer may have an electric vehicle for personal use or for business use. This deduction would facilitate individuals having an electric vehicle for personal use to claim the interest paid on the vehicle loan.
Is proof required for 80DD?
Medical Certificate: To claim tax deduction under Section 80DD, the taxpayer will have to submit a copy of the medical certificate, which authenticates the disability of the dependant.
How do I get a form 10IA?
Form 10IA must be signed by a medical authority as follows:
- Neurologist having a degree of Doctor of Medicine (MD) in Neurology (in case of children, a Paediatric Neurologist having an equivalent degree).
- Civil Surgeon or Chief Medical Officer in a Government hospital.
What is the difference between 80DD and 80DDB?
Thus in case of medical expenses with respect to disabled dependant, Section 80DD, is applicable while in case, the assesse himself/herself is disabled, deduction can be obtained u/s 80U….What are the Differences in Applicability?
| Income Tax Act Section | Applicability |
|---|---|
| Section 80DDB | Medical Treatment of Self/Dependant |
What is CEA exemption?
Children Education Allowance: If you are receiving children education allowance from your employer then you are eligible to claim a tax exemption under the Income-tax Act. However, the maximum amount exempted is Rs. 100 per month or Rs. 1200 per annum for a maximum of up to 2 children.
What was the purpose of rule 11dd in 1962?
Rule 11DD – Specified diseases and ailments for the purpose of deduction under section 80DDB – Income-tax Rules, 1962
What are specified diseases for the purpose of rule 11dd?
11DD . (1) For the purposes of section 80DDB, the following shall be the eligible diseases or ailments : (i) Neurological Diseases where the disability level has been certified to be of 40% and above,— (ii) Thalassaemia.
When was rule 11dd amended to include 80ddb?
No.2791 (E) on 12th October 2015 amending Rule 11DD. The amended Rule relaxes the condition of obtaining the certificate for claiming expenditure under section 80DDB in respect of specified ailments from a specialist working in a Government hospital.
When does rule 11dd ( 2 ) come into force?
(2) They shall come into force on the date of publication in the Official Gazette. 2. In the Income-tax Rules, 1962 (hereinafter referred to as the said rules), in rule 11DD, for sub-rules (2) and (3), the following sub-rules shall be substituted, namely:—