RESUME APPLICATION PAY PREMIUM
Fund Performance

Fund Performance

Knowledge Center

Knowledge Center

About Us

About Us

Tools and Calculators

Tools & Calculators

Quick links

Mobile (Download app)
  • Webpages
  • Documents
  • HDFC Life ClassicAssure PlusInvestment
  • HDFC Life ClassicAssure PlusInvestment
  • HDFC Life ClassicAssure PlusInvestment

For NRI Customers

(To Buy a Policy)

(If you're our existing customer)

For Online Policy Purchase

(New and Ongoing Applications)

Branch Locator

For Existing Customers

(Issued Policy)

Fund Performance Check

RESUME APPLICATION PAY PREMIUM

What do you want to do?

Quick links

Mobile (Download app)

Download HDFC Life App

Buy plans, track your policy, make renewal payments & monitor fund performance with HDFC Life App, Download Now!

Apple Logo Go to Google Play Store

Income tax deductions for disabled person

down-arrow
Income tax deductions for disabled person
April 09, 2019
Financial security is a primary and essential component of any individual's life and forms a critical basis on which the foundation of the person's future is laid. When we talk about the financial inclusion of any individual, the whole gambit involves many different spheres of financial activities and exercises, including the very important one that pertains to tax saving. After all, no amount of financial exercise is complete without the relevant tax-saving mechanisms in place. This is very important because tax-exemptions form an important mode of avoiding getting over-taxed. In the whole context of this, the financial inclusion of differently-abled persons is one of the core parameters that have to be decided in a very credible manner. Be it any kind of disability, a differently-abled person has certain special needs that may require coverage against frequent medical bills, doctor's visits, healthcare-requirements and related spheres. Therefore, when it comes to tax-saving for differently-abled persons, there are certain pointers that must be kept in mind.

Following is a list of income tax deductions for a differently-abled person that can be availed of under relevant Sections of the Income Tax Act:

  1. Tax-exemption under Section 80DDB: Tax-exemption under Section 80DDB can be claimed by an individual who is a citizen of India or an HUF (Hindu Undivided Family). The exemption can be sought for any disability that is greater than 40 percent and against which the incurred costs have been covered. In simple terms, what this means is that the tax exemption under this section can be claimed by an individual for her/his benefit or for the benefit of a dependent family member (may be any family member in case of HUF). The slabs of exemption vary from one age group to another and depend on the severity of the disability. The diseases that are covered under this are Dementia, Ataxia, Aphasia, Hemophilia, AIDS, Renal failure, Motor Neuron Disease, any malignant cancers, Thalassaemia, Chorea among others.
  2. Tax “exemption under Section 80U: Section 80U provides for the requisite provisions under which tax exemption can be sought by the individual for her/his own requirement. The eligibility for seeking any exemption under this Section covers only the individual and not her/his dependent family members. As with Section 80DDB, the slabs of exemption vary from one age group to another and depend on the severity of the disability. The diseases that are covered under this are Dementia, Ataxia, Aphasia, Hemophilia, AIDS, Renal failure, Motor Neuron Disease, any malignant cancers, Thalassaemia, Chorea among others.
  3. Tax-exemption under Section 80DD: Section 80DD of the income tax slab rates Act offers exemption under relevant provisions for a differently-abled person. Under the eligible exemptions for this Section, the coverage is extended to individuals (only to citizens of India) and HUFs equally. Therefore, in case of dependent family members, tax exemption under this Section can be claimed after due certification authorized by a certified Neurologist having the degree of MD in Neurology or by the CMO of a government hospital.

HDFC Life offers various health insurance plans that are aimed at safeguarding your finances during any health-related contingency.

Plan Income tax

Show Full Article
Hide Full Article

Term Plan Articles Term Plan Articles

Investment Articles Investment Articles

Savings Articles Savings Articles

Life Insurance Articles Life Insurance Articles

Tax Articles Tax Articles

Retirement Articles Retirement Articles

ULIP Articles ULIP Articles

Health Plans Articles Health Plans Articles

Child Plans Articles Child Plans Articles

Popular Calculators Popular Calculators

Francis Rodrigues Francis Rodrigues

Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.

LinkedIn profile
Author Profile Written By:
Vishal Subharwal Vishal Subharwal

Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.

LinkedIn profile
Reviewed By Reviewed By:

Here's all you should know about life insurance.

We help you to make informed insurance decisions for a lifetime.

Income Tax Slab FY 2024-25 and AY 2025-26

Income Tax Slab FY 2024-25 and AY 2025-26

The latest income tax slabs for FY 2024-25 and AY 2025-26, including new and old regime rates, deductions, key highlights for smart tax planning, and savings tips.

Tax Planning for Salaried Employees: Key Pointers to Consider

Income Tax Saving Tips for Young Earners

What is Tax Declaration Form? - Process to File Income Tax Declaration

Investment declaration has to be done in the beginning of a financial year. Read to know what is form 12BB & the step by step process to declare investments!

What is Tax Declaration Form? - Process to File Income Tax Declaration
Tax Benefits of HDFC Life Sanchay Plus Previous
How to enquiry for TDS challan status Next
HDFC life
HDFC life

HDFC Life

Reviewed by Life Insurance Experts

HDFC LIFE IS A TRUSTED LIFE INSURANCE PARTNER

We at HDFC Life are committed to offer innovative products and services that enable individuals live a ‘Life of Pride’. For over two decades we have been providing life insurance plans - protection, pension, savings, investment, annuity and health.

Popular Search

Popular Searches