80D

This query is : Open

Shashikant (Querist)
Follow

11 July 2016 Deduction of ₹ 25000 is for per person I.e. children spouse and self or total of all premium paid restricted to 25000? what will be max deduction in case of 4member family? 2 children and husband wife. Is it 25000*4 or just 25000 in total?

Sathish M

Sathish M (Expert)
Follow

11 July 2016 It is not per person but available cumulatively. The deduction allowed as per provisions of section 80 D for Assessment Year 2016-17 would be as follows:

In case, no-one has attained the age of 60 years then Eligible Expense or Medical Insurance Premium paid in respect of Self, Spouse & Dependent Children would be Rs. 25,000 and for Parents (whether dependent or not) would be Rs. 25,000. Thus Total Deduction under Sec. 80D would be Rs. 50,000.

Similarly, Assessee and his family is less than 60 years & parents are above 60 years of age, the Eligible Expense or Medical Insurance Premium paid in respect of Self, Spouse & Dependent Children would be Rs. 25,000 and for Parents (whether dependent or not would be Rs. 30,000. Thus Total Deduction under Sec. would be Rs. 55,000.

Finally, Assessee and his parents have attained the age of 60 years and above the Eligible Expense or Medical Insurance Premium paid in respect of Self, Spouse & Dependent Children would be Rs. 30,0000 and for Parents (whether dependent or not) it would be Rs. 30,0000.

Shashikant

Shashikant (Querist)
Follow

11 July 2016 Thanks a lot. on following link in a paragraph it is given as deduction available per person, that's why I got confused http://taxguru.in/income-tax/tax-benefits-health-insurance-invest-heath-save.html please let me know if I was wrong in interpreting the article... Thank you again.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

cgagroshg cgagroshg

venkanna setty

Jayaram Bramhajosyula

NITHIN GEORGE

DHRUV PATEL

Subscribe Now

80D

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANCY

GST CONSULTANT

CA Final

Accountant

Article Assistant