| My son is undergoing treatment at Central Institute of Psychiatry, Ranchi. Though the institute doesn’t charge anything, I have to spend a considerable sum on medicines. |
| I claim deduction (from income) under section 80DD, 80DDB or 80U? |
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Name withheld |
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| You can claim the amount spent on your son’s treatment — including medicines — as deduction (from income) under section 80DD or 80DDB. If the institute certifies your son as mentally ‘disabled’, you could claim deduction under section 80DD. If the disability is certified as ‘severe’ you can claim deduction of up to Rs 75,000, and if it is ‘ordinary’, you can claim up to Rs 50,000. If the institute does not certify your son as disabled, you can still claim deduction under section 80DDB if your son is suffering from one of the specified diseases. Maximum deduction allowable under this section is Rs 40,000 a year and Rs 60,000 for senior citizens. |
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| Public problem |
| I had subscribed to Indian Overseas Bank’s public offering of shares in September last year, but I did not get shares. The bank surprisingly did not return the application money either despite several reminders. How can I get my money back? |
Samarjit Ghosh, Barasat |
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| You aren’t the only investor to have suffered. The bank appears to have had a problem with allotment of shares and returning the application money. You should contact George Zachariah at the Investor Relations Cell of the bank’s central office at 763 Anna Salai, Chennai 600 002. You can call him at (044) 2851 9491 or 2841 5702. His fax number is (044) 2852 3372. We are forwarding your complaint to him. |
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| Single premium policy |
| I have bought a single-premium insurance policy for Rs 33,695. Can I claim a tax rebate under section 88? |
Amitava Dutta, Calcutta |
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| If the premium paid — Rs 33,695 — is less than or equal to 20 per cent of the sum assured of the policy, you can claim tax rebate, and the whole amount paid as premium qualifies for it. But if the premium is more than 20 per cent of the sum assured, you can claim rebate only up to a fifth of the sum assured. |
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| If you have any queries about investing or taxes or a high-cost purchase you are planning, mail to: btgraph@abpmail.com, or write to: Business Telegraph, 6 Prafulla Sarkar Street, Calcutta 700 001 |
