https://www.taxtmi.com/acts?id=48340 A resident individual or Hindu undivided family may deduct amounts paid into Board approved schemes of the Life Insurance Corporation or the Unit Trust of India for maintenance of a handicapped dependant, subject to a statutory ceiling and payment from taxable income; the scheme must provide annuity or lump sum benefits on the subscriber's death and the subscriber must nominate a recipient for the dependant's benefit. If the dependant predeceases the subscriber, amounts equal to payments are treated as the subscriber's income when received. The section defines handicapped dependant and related institutional terms. en-us Fri, 31 Jan 2025 14:17:41 +0530 Fri, 31 Jan 2025 14:17:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=48340 A resident individual or Hindu undivided family may deduct amounts paid into Board approved schemes of the Life Insurance Corporation or the Unit Trust of India for maintenance of a handicapped dependant, subject to a statutory ceiling and payment from taxable income; the scheme must provide annuity or lump sum benefits on the subscriber's death and the subscriber must nominate a recipient for the dependant's benefit. If the dependant predeceases the subscriber, amounts equal to payments are treated as the subscriber's income when received. The section defines handicapped dependant and related institutional terms. Act-Rules F. Acts / Amendment Acts Fri, 31 Jan 2025 14:17:41 +0530 https://www.taxtmi.com/acts?id=48340