RAKESH JAIN (RETIRED COMPUTER PROFESSIONAL) (369 Points)
05 March 2010I am planning to buy a Floating Medical/Health Policy for myself & my wife. I located a reasonably good Policy but
its brochure mentions that rebate on tax under section 80D is not available on this policy. Somebody told me that 80D is not available on Group Policies. Is it true & is a Floating Policy a Group Policy?
Thanking you. Best regards, RAKESH
Amir
(Learner)
(4016 Points)
Replied 05 March 2010
Dear Sir,
I searched but couldnt find this condition that group policy is not eligible for 80D...In fact group premium paid through emplyer is eligible u/s 80D.......
But since insurance documents itself says that it is not eligible for benefit under 80D, then I think it wont be an eligible scheme.
Sir, I would say plz ask the detais from the company only cos they can better explain......
Yash Sharma
(CA - FINAL)
(138 Points)
Replied 05 March 2010
sec 80d - aplicable - if taken by individual for himself or family floater plan
Not aplicable - if health insurance taken by group of people for himself or for entire family
example of group health insurance - by all employees of any organisation .
exemption limit - Rs. 15000 for himself , spouse, children
additional Rs. 5000 if taken for for parents also .
Amir
(Learner)
(4016 Points)
Replied 05 March 2010
Dear Yash,
Plz check this link n can u plz support ur statement -
https://www.hindu.com/biz/2004/01/05/stories/2004010500020301.htm
Sanjeev Kumar
(MBA Finance (Manager Accounts))
(77 Points)
Replied 20 March 2010
pls advise can we cliam rebate us $ 80 d if premium is paid by cash
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