Clarification on 80D

This query is : Resolved

Vikram Sirohia (Querist)
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04 April 2009 I am a 20 years old self employed.

If I pay health insurance premium of Rs. 20000.00 for my parents who are 45 years of age, will it quality for deduction u/s 80D over and above Rs. 15000.00 that I pay for self.

My parents are financially not dependent on me.

Please advice,

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
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04 April 2009 you can claim 15000 for urself and 15000 for ur parents

Taranjit Singh

Taranjit Singh (Expert)
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04 April 2009 Where the assessee is an individual, the sum referred to in sub-section (1) shall be the aggregate of the following, namely:

(a) the whole of the amount paid to effect or to keep in force an insurance on the health of the assessee or his family as does not exceed in the aggregate fifteen thousand rupees; and

(b) the whole of the amount paid to effect or to keep in force an insurance on the health of the parent or parents of the assessee as does not exceed in the aggregate fifteen thousand rupees.

Explanation.For the purposes of clause (a), family means the spouse and dependant children of the assessee.

Taranjit Singh

Taranjit Singh (Expert)
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04 April 2009 Additional deduction for health insurance premium paid for parents[SEC.80D] [wef. A.Y.2009-10]

Amendment by finance bill 2008

CA Anil Jain

CA Anil Jain (Expert)
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06 April 2009 Yes U can take deduction upto Rs. 15000/- for urself and ur spouse nd children and Additional upto Rs. 15000/- for ur parents.

If Medical Insurance is paid for a Senior Citizen then Rs. 15000/- shall be substituted wid Rs. 20000/-
i.e. 15000+15000=30000
or 15000+20000= 35000
or 20000+20000=40000
Max. Limit.

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