Higher tax relief for families taking care of disabled expected in upcoming union budget
The budget for the current financial year will be out and this will be the last one by the current central government before the next general elections.
The Ministry of Social Justice and Empowerment has urged the government to fulfill its promise of a higher tax relief for families that take care of their disabled members.
It is hoped that the Finance Minister Arun Jaitley will announce the tax relief in the upcoming budget.
According to the Ministry of Social Justice and Empowerment, the department has been asked by the government to make a list of promises that remain to be fulfilled.
The finance minister has therefore been emailed about the government’s commitment regarding the tax relief for families of people with disabilities.
At present, the expenses incurred by a family on their disabled members are covered under Section 80DD of the Income tax rules.
The current provisions allow for a tax relief of up to Rs 75,000 in case the disability is less than 80% but more than 40%. When the disability is more than 80%, then the tax benefit can be as high as Rs 1,25,000.
The upcoming budget is expected to increase the Tax bracket and provide more financial relief to families of disabled people in the country.
This year’s budget will also indicate the performance of the government and show how many of the promises were kept by the BJP led government.