Income Tax Exemptions for Cancer Patients in India

Income Tax exemptions for Cancer Patients:
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Section 80DDB
Rule 11DD
– Deduction up to INR 40,000 w.r.t. payment for medical treatment of cancer during the tax year
– Deduction up to INR 60,000 for senior citizens
– Deduction up to INR 80,000 for very senior citizens
– Self,
– spouse, children, parents, siblings (defined as dependents)
– member of HUF

Section 17(2)
Rule 3A
– Any sum paid by the employer w.r.t. expenditure actually incurred by the employee on medical treatment of cancer
– in any hospital approved by Principal Chief Commissioner/ Chief Commissioner (conditions for granting approval to the hospital, mentioned in Rule 3A)
– Self,
– Spouse and children
– Parents/ siblings (wholly or mainly dependent on the individual)

Section 17(2)
Rule 3(7)(i)
– Interest free loan exempt in the hands of the employee if loan is given by the employer for medical treatment of cancer.
– Self,
– Spouse and children
– Parents
– Servants and dependents

Section 80C
Rule 11DD
– Section 80C imposes condition that if premium of an insurance policy is more than 10% of the capital sum assured, then 80C deduction is not available.
– Relief is given to cancer patients for whom this limit has been increased to 15%
– Applicable if the insurance policy is for the insurance of a cancer patient

Section 10(10D)
Rule 11DD
– Any sum received under life insurance policy (including bonus) is exempt u/s 10(10D).
– Exception -This exemption is not available if insurance policy is issued on or after 1.04.2012 and where premium exceeds 10% of capital sum assure
– (It may be noted that above exception is not applicable on insurance payment received on death, as it is exempt.)
– Relief is given to cancer patients for whom this limit has been increased to 15% (for any policy issued on or after 1.04.2013)
– Applicable if the insurance policy is for the insurance of a cancer patient

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