Although these expenses are covered under my insurance policy, there is some parallel treatment recommended as preventive measures to control the spread of this disease. Since the parallel treatment ovarian ablation and IVF treatment is not covered in my insurance policy, I would have to shell out approximately 2 lakhs for this treatment. Can I avail of exemption in this case and to what extent? Answer — Section 80DDB provides deduction for expense on cancer patients. Section 80DDB starts with following lines Deduction in respect of medical treatment, etc. However the deduction is limited to maximum Rs 40, which is Rs 60, in case patient is 60 years or above and Rs.
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The deduction allowed shall be least of the following:- Actual amount paid Rs. However, in case the actual amount paid is more than Rs. However, the above limit of Rs. For the purposes of Income Tax, any person who has attained the age of 60 at any time during the year is considered as a Senior Citizen Budget has brought in an amendment to Section 80DDB and the deduction under Section 80DDB has been increased for very senior citizens to Rs.
Very Senior Citizens are those Individuals who are above the age of 80 years. This amendment is applicable from Financial Year onwards. The deduction of Rs. This requirement of obtaining a certificate from a doctor working in a Govt Hospital causes undue hardship to the persons intending to claim the aforesaid deduction. The Govt hospitals at many places do not have doctors specialising in the above branches of medicine. For this and many other reasons, it may be difficult for a taxpayer to obtain a certificate from a Govt Hospital.
In view of the above, Section 80DDB has been amended by the Finance Act so as to provide that the assessee can submit a certificate from a specialist doctor whether working in Govt Hospital or not. He is also the founder of this website and is an expert in helping people save Taxes legally. He can be reached by booking an appointment for Tax Advisory Service.
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Section 80DDB: Deduction for Treatment of Specified Disease
Section 80DDB of Income Tax Act: Diseases Covered, Form, Certificate & Deductions