Friday, March 26, 2010

Deduction u/s 80U (for Disability)

Friends
                     An individual can avail deduction of Rs. 50,000/- (Fifty thousand only)  under section 80U only after providing disability certificate from any medical authority. Only a resident can avail this deduction.  

                     If an individual is effected with any severe disability, amount of deduction u/s 80U will be Rs. 75,000/- (Seventy five thousand only). 

                         w.e.f. 01.04.2010, as per sub-section (1) of section 80U by the Fianance (No.2) Act,209,  for the Financial Year 2010-11 or Assessment Year 2011-12, Deduction of Rs. 75000/- has been increased to Rs. 1,00,000/-.

                         Time to time re-assessment of  disability certificate is also required as mentioned in medical certificate.  Deduction can be provided only for the period as mentioned in the medical certificate.

Other important deductions (click here)

  

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