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of <h1>New Tax Deduction for Medical Expenses and Schemes for Handicapped Dependants Under Section 80-DD</h1> The Finance (No. 2) Act, 1998, replaces sections 80-DD and 80-DDA of the Income Tax Act with a new section effective April 1, 1999. This section allows a deduction for expenses on medical treatment, training, and rehabilitation of a handicapped dependant, or payments made under approved schemes by the Life Insurance Corporation or Unit Trust of India. The deduction is capped at forty thousand rupees. Conditions for the deduction include provisions for annuity or lump sum payments upon the death of the individual or family member. Definitions of terms like 'handicapped dependant' and 'Government hospital' are also provided.
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