Deduction for disabled dependant maintenance extended to schemes paying annuity or lump sum on subscriber reaching senior age.

The amendment replaces clause (a) of sub section (2) to permit the deduction under section 80DD where a scheme provides annuity or lump sum payments for a disabled dependant on the subscriber's death or where the subscriber attains a specified senior age and scheme payments have ceased. It also inserts sub section (3A) excluding from the deeming rule in sub section (3) any annuity or lump sum received by the dependant before his death under the senior age condition. The changes apply from the start of the relevant fiscal year.

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