Dedcution in respect of medical insurance premia sec 80d

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Smitha P Nair (Querist)
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02 March 2012 Hi,
If an individual has taken medical insurance of Rs.15000 premium in his name and a medical insurance of Rs.20000 premium in his father's name who is a senior citizen what will be the maximum amount of deduction u/s sec 80D ?

vinay

vinay (Expert)
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02 March 2012 In addition to the deduction of 15,000/- on mediclaim insurance for self, spouse and children, you can also claim deduction u /s 80 D for an addition sum of Rs. 20,000/- towards insurance paid for parents (if they are Senior citizens if not only 15000/- can be claimed)
Therefore you are eligible to claim a total deduction of Rs. 35000/- under Section 80 D

In case you are a senior citizen you can further claim 5000/- more (total 20,000 + 20,000 = Rs. 40,000/-)

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