The Ultimate 80DDB Disease List: A Comprehensive Guide
As medical expenses continue to soar, getting tax relief is of prime importance for middle-income families. The Section 80DDB provision of the Income Tax Act, 1961, allows a tax deduction for expenses incurred on the treatment of certain specified illnesses. In this article, we present a comprehensive guide to the ultimate 80DDB disease list.
What is Section 80DDB
Section 80DDB is a tax provision available to residents of India. It allows tax deductions for the medical treatment of specified ailments for self, spouse, children, or dependent parents. Depending on the age of the person for whom treatment is taken, the deduction limit varies between Rs. 40,000 – Rs. 1,00,000. This deduction reduces the taxable income of a taxpayer and leads to lower tax liability.
The 80DDB Disease List
Section 80DDB specifies ailments for which medical treatment expenses will be considered eligible for tax deduction. The list includes:
1. Malignant cancers
2. Full-blown Acquired Immune Deficiency Syndrome (AIDS)
3. Chronic Renal Failure
4. Hemophilia
5. Thalassemia
Eligibility Criteria for Deduction under 80DDB
To avail the tax benefit of Section 80DDB, an individual must fulfill the following conditions:
1. The treatment should be taken for the individual himself/herself, spouse, children, or dependent parents.
2. The disease being treated should be included in the 80DDB disease list.
3. The taxpayer should have the necessary certificates from the hospital in the prescribed format.
4. The individual should have actually paid for the expenses. Reimbursement of expenses is not allowed.
What Medical Expenses are Covered Under 80DDB?
Medical expenses that qualify for deduction under Section 80DDB include:
1. Expenses for medical treatment of the specified disease, including the cost of medicines
2. Expenses for diagnostic tests employed for the detection of the specified disease
3. Costs for hospitalization related to the specified disease
Conclusion
Apart from the financial burden of paying for medical treatment, taxpayers are also liable to pay taxes on their income. Section 80DDB provides relief to taxpayers by allowing deductions for expenses incurred on specified diseases. It is important to remember that to claim tax relief under Section 80DDB, you need to have the relevant certificate from the hospital and fulfill other eligibility criteria. Use the Ultimate 80DDB Disease List provided in this article to ensure your expenses are eligible for deduction under Section 80DDB.
