The last date to file ITR is July 31. Now there is less than a month left for ITR filing. If you have not filed your income tax return yet, you must complete this work now. Otherwise, you may have to pay a penalty after the last date. Let us tell you that if you have tax liabilities by filing ITR, you can save some tax rupees from the hospital bill. Let us know that method.
You can save taxes like this.
Under Income Tax Sections 80D, 80DD, 80DDB and 80U, you can claim tax exemption of up to Rs 25,000 on health insurance premium. However, for senior citizens this limit is up to Rs 50,000. Under Section 80E, you can get tax exemption on interest paid on education loans. Not only this, you can claim tax of Rs 75,000 on hospital bill under Section 80DD, but for this some conditions need to be fulfilled.
You can make this claim under 80DD
If someone’s parents are more than 40 per cent disabled, then that person can avail income tax exemption under section 80DD. This section says that if up to Rs 75,000 is spent on the treatment of parents with 40 per cent disability, they will get the benefit. This money can be claimed in income tax. If there are two siblings in the family and both of them spend on their parents, then it will be seen how much their expenditure is. If both siblings spend between Rs 75,000 and Rs 75,000, then both siblings can claim income tax.
Under Section 80DD, if parents, wife, children, brothers and sisters are disabled, then exemption from tax is granted under this section on the expenses incurred on their treatment or services. In the case of a Hindu joint family, any member can be disabled. The total deduction limit under this section can be up to Rs 1.5 lakh if two siblings spend between Rs 75,000 and Rs 75,000 each.
You can also claim taxes below 80U
There is a similar section 80U under which disabled persons can claim deduction for themselves. However, the rule says that if a disabled person claims tax exemption for himself below 80U, no other person can claim tax for the disabled person below 80DD. Any Indian person can claim deduction under section 80DD. It includes expenses related to treatment, training and rehabilitation of the disabled dependent. There are some conditions for this like the person himself or his dependent is suffering from some disease due to which he is unable to work. The level of disability under this section should not be less than 40 per cent.
