TAX CLUB INDIA

Hi,

I want to know about 2 queries.

1. Incase of TDS, what will be the rate of interest? If the payment will be delayed. Please reply by giving the details.

2.Is their any exception for handicap/ disable persons in Income Tax slab/ range? If yes, then provide me the details of the same.

Thanks & Regards,
P. Joshi

Interest on late deposit is 1 % per month or part of the month.

For details on Interest On late deposit of Tds Kindly visit the following Link

http://simpletaxindia.blogspot.com/2009/02/late-deposit-of-tds-interest-penalties.html

second:
Disable person can claim deduction u/s 80U on certain disabilities

for disabilty =50000
For severe disability =75000

disability means

(a) disability shall have the meaning assigned to it in clause (i) of section 2 of the Persons with Disabilities (Equal Opportunities, Protection of Rights and Full Participation) Act, 1995 (1 of 1996)27, and includes autism, cerebral palsy and multiple disabilities referred to in clauses (a), (c) and (h) of section 2 28 of the National Trust for Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities Act, 1999 (44 of 1999);

(b) medical authority means the medical authority as referred to in clause (p) of section 2 of the Persons with Disabilities (Equal Opportunities, Protection of Rights and Full Participation) Act, 1995 (1 of 1996)29, or such other medical authority as may, by notification, be specified by the Central Government for certifying autism, cerebral palsy, multiple disabilities, person with disability and severe disability referred to in clauses (a), (c), (h), (j) and (o) of section 2 of the National Trust for Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities Act, 1999 (44 of 1999)30;

(c) person with disability means a person referred to in clause (t) of section 2 of the Persons with Disabilities (Equal Opportunities, Protection of Rights and Full Participation) Act, 1995 (1 of 1996)29, or clause (j) of section 2 of the National Trust for Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities Act, 1999 (44 of 1999)30;

(d) person with severe disability means

(i) a person with eighty per cent or more of one or more disabilities, as referred to in sub-section (4) of section 56 of the Persons with Disabilities (Equal Opportunities, Protection of Rights and Full Participation) Act, 1995 (1 of 1996)31; or

(ii) a person with severe disability referred to in clause (o) of section 2 of the National Trust for Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities Act, 1999 (44 of 1999)32.]]

More over if person him self has not claim the deduction then his care taker on whom he is dependent can claim deduction u/s 80DD for the same amount