80d
This query is : Resolved
ravi bisht
(Querist)
09 September 2013
how deduction is computed under section 80d...medi claim policy
CA Pallav Singhania
(Expert)
09 September 2013
Deduction in respect of Medical Insurance Premium for Self and family members.
Maximum Deduction available Rs. 20,000/- for Senior Citizens and Rs. 15,000/- for others.
Deduction in respect of Medical Insurance Premium for Parents (Father or mother or both).
Maximum Deduction available Rs. 20,000/- for Senior Citizens parents and Rs. 15,000/- in other cases.
Mode of payment:
Insurance Premium should be paid by any mode other than by Cash.
Means if insurance premium is paid by cash then no deduction is available.Before Assessment year 2012-13 ,only payment by cheque was allowed under this section but from Ay 2012-13 onwards the deduction is allowed by other mode also like online payment which is now a days is very popular or by credit card is also allowed.
Maximum Deduction available Rs. 20,000/- for Senior Citizens and Rs. 15,000/- for others.
Deduction in respect of Medical Insurance Premium for Parents (Father or mother or both).
Maximum Deduction available Rs. 20,000/- for Senior Citizens parents and Rs. 15,000/- in other cases.
Mode of payment:
Insurance Premium should be paid by any mode other than by Cash.
Means if insurance premium is paid by cash then no deduction is available.Before Assessment year 2012-13 ,only payment by cheque was allowed under this section but from Ay 2012-13 onwards the deduction is allowed by other mode also like online payment which is now a days is very popular or by credit card is also allowed.
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