LESSER KNOWN TAX DEDUCTIONS
Many individuals think that tax deductions means investing in public provident fund or life insurance policy only. But there are lots of other deductions that are available and people don’t claim them as they are not aware of them. Here are some of the deductions about which people of unaware:
1. MEDICAL EXPENSES FOR SPECIFIED DISEASES LIKE AIDS, CANCER
The actual expenditure incurred on treatment of specified diseases like AIDS, Cancer, etc. is deductible to the extent of Rs. 40,000 or the actual expenses whichever is lower. And in case of Senior Citizens the maximum limit is Rs. 60,000.
2. DEDUCTION OF MEDICAL EXPENSES INCURRED […] Read more