What is the amendment brought in by Budget 2018 in Section 80DDB (of Income Tax Act, 1961)?
What is the amendment brought in by Budget 2018 in Section 80DDB (of Income Tax Act, 1961)?
Kanishka Feb. 02, 2018
- Existing deduction used to be Rs 60,000 for senior/80,000 for super senior citizens or expense incurred, whichever is less.
- Now deduction has been increased to Rs 100,000….So if expense incurred is say Rs 1,20,000 then maximum deduction in respect of senior citizens/super senior citizens will be Rs 100,000..
- It is pertinent to mention that in case some amount is reimbursed under medical insurance policy, then such amount reimbursed will be reduced from the deduction available under this section 80DDB.
