Taxation Exam > Taxation Videos > Income Tax for assessment (Inter Level) > 80DD, 80DDB and 80U
80DD, 80DDB and 80U Video Lecture | Income Tax for assessment (Inter Level) - Taxation
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FAQs on 80DD, 80DDB and 80U Video Lecture - Income Tax for assessment (Inter Level) - Taxation
| 1. What is the difference between 80DD, 80DDB, and 80U taxation? |  |
Ans. 80DD, 80DDB, and 80U are different sections of the Income Tax Act that provide tax deductions for individuals with specific medical conditions or disabilities.
| 2. Who is eligible for deductions under section 80DD? | |
Ans. Section 80DD allows individuals to claim deductions for expenses incurred on the maintenance, medical treatment, and rehabilitation of a dependent with a disability. The dependent can be a spouse, child, parent, or sibling.
| 3. What types of medical conditions are covered under section 80DDB? | |
Ans. Section 80DDB allows individuals to claim deductions for expenses incurred on the treatment of specified diseases or ailments for themselves or their dependents. Some examples of covered illnesses include cancer, chronic renal failure, and neurological disorders.
| 4. How much deduction can be claimed under section 80U? | |
Ans. Section 80U provides deductions to individuals with disabilities. The deduction amount varies based on the severity of disability, ranging from Rs. 75,000 for moderate disability to Rs. 1,25,000 for severe disability.
| 5. Can I claim deductions under multiple sections (80DD, 80DDB, and 80U) simultaneously? | |
Ans. Yes, it is possible to claim deductions under multiple sections simultaneously if you meet the eligibility criteria for each section. However, the total deduction claimed cannot exceed the maximum limit specified under each section.
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Nov 16, 2024 Last updated |
Video Description: 80DD, 80DDB and 80U for Taxation 2024 is part of Income Tax for assessment (Inter Level) preparation.
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