The figure rises to Rs 60,000 if the person undergoing the treatment is a senior citizen and hence the changed figure would have to be considered. In the midst of all this there are several other points that need attention because of the fact that this is important to enable the benefit to be taken.
There is a tax deduction that is available to an individual when they make an expense in respect of medical treatment for specified causes. The list for the various types of diseases is specified and if there is an amount spent here then a sum of Rs 40,000 or the actual amount that is spent whichever is lower would be allowed as a deduction. The figure rises to Rs 60,000 if the person undergoing the treatment is a senior citizen and hence the changed figure would have to be considered. In the midst of all this there are several other points that need attention because of the fact that this is important to enable the benefit to be taken.
Individual
When it comes to the question of the individual who can take the benefit under this specific section (Section 80DDB) then it has to be a resident individual. The main point here being that the conditions for being a resident have to be fulfilled. A non resident individual would thus not be able to get the deduction for the same expense that they would have made and hence this is something that has to be kept in mind by the person making the expense.
Actual expenditure
The second condition that comes along with the resident condition is that there has to be actual expenditure that has to be incurred on the treatment of specified diseases. The actual expenditure needs to have happened and just suffering from the specific disease is not enough to be able to get the benefit of the deduction. This is the reason why the benefit is restricted to the actual amount that has been spent or Rs 40,000 or Rs 60,000 as the case may be depending upon the person who is getting the treatment.
Persons covered
In terms of the people whose treatment would be covered this would cover the individual or wholly/mainly dependent husband or wife. Others who would also get the benefit include the children of the individual plus parents, brothers and sisters of the individual. Looking at this list it is quite clear that the scope of coverage is quite wide as there are several people who would be included in the whole list and hence claiming the benefit for any of them would be possible.
Insurance
There can also be a condition wherein after the treatment is taken by the individual there is an insurance claim that is possible and this is made for the treatment. If this is the case then the deduction would have to be reduced by the amount received from the insurance company. Even if the amount is received from the employer then the amount would have to be reduced. This quite clearly states that any recovery would go on to reduce the deduction and hence the total transaction has to be considered.
Other conditions
There are also some other related conditions that need to be kept in mind by the individual while they are making the claim. The first thing is that there has to be a certificate in the prescribed form that needs to be obtained. This would have to be done from a specified doctor who is a specialist in the area where the expense is being allowed so this also needs to be undertaken. At the same time this has to be from a doctor working in a government hospital. The term here is working and not an employee and hence the term is quite wide in the context of its implementation and understanding which the individual needs to keep in mind.
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