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November 29, 2022

Itax Software

Income Tax Software

Income Tax Rebate U/s 80DDB ( Medical Treatment), Plus Master of Form 16 Part A&B for the Financial Year 2014-15

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Click above to Download and prepare at a time 100 employees Form 16 Part A&B for the Financial Year 2014-15

The CBDT has already notified that the Form 16 Part A is Mandatory to Download form the TRACES portal, but most of concerned could not able to download the Part A from the Portal, In this regard the Tax Deposited in to the Central Govt have not shown properly as well as Quarterly Basis. The CBDT has already Changed the Format of Form 16 and two part have in this new modified Form 16 ( Part A and Part B). The Part B of form 16 have the details of Salary Income of an employee and Part A have the details of Tax Deducted and deposited to the Central Govt A/c.
As the most of the concerned have not yet know about this new process and they are not ware how to download the Part A of form 16 from the TRACES Portal, they have to need the both of Part A and Part B of Form 16.
As per the New Tax Slab for the Financial Year 2014 the limit of Tax Slab is raised up to Rs. 2.5 Lakh and other Section 80C also raised up to Rs. 1.5 Lakh.
Most of the Tax Payers have not known about the Income Tax Section 80DDB, where can get extra relief from Tax in connection to the Medical Treatment Purpose.The Section of 80DDB is given below as per the Tax Rules.
If you or a dependent undergoes medical treatment for diseases
like cancer, kidney failure, thalassaemia, etc you can get income tax deduction
for the amount you have spent for the treatment. Section 80DDB deals with this.

Eligibility for 80DDB
This tax rebate is applicable for individuals and HUFs resident in
Medical treatment for the following diseases should be undergone and you should
have paid the expenses on yourself, spouse, children, parent, brother or
i) Neurological Diseases with disability of at least 40%
    – Dementia
    – Dystonia Musculorum Deformans
    – Motor Neuron Disease
    – Ataxia
    – Chorea
    – Hemiballismus
    – Aphasia
    – Parkinsons Disease
 ii) Malignant Cancer
 iii) AIDS
 iv) Chronic Kidney failure
 v) Hematological disorders
    – Hemophilia
    – Thalassaemia

You would have to produce certificate from specialist government doctors
in Form 10-I. They have to be certified by a Neurologist for diseases in (i),
Oncologist for (ii), Nephrologists for (iv) and a specialist with degree in 
Hematology for diseases in (v). You can get a certificate from a
specialist even if the treatment is being undergone in a private hospital.

80DDB tax deduction on medical treatment is not available for NRI

Maximum deduction limit under 80DDB
The actual expense or Rs 40,000, whichever is lesser can be
claimed for income tax deduction under section 80DDB. If the person undergoing
treatment is a senior citizen and resident of India the exemption limit is Rs

Click to download the Master of Form 16 Part A&B for the Financial Year 2014-15 ( This Excel Utility can prepare at a time 100 employees Form 16 Part A&B)

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