Deduction under 80D

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 March 2011 Sir .I m paying consolodated amount of Rs.30000 as a premium for my family including senior citizen......How much Deduction i get under section 80D....

jinkesh jain

jinkesh jain (Expert)
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05 March 2011 The amount of deduction depends on whether senior citizen u referring to are ur parents. Please provide breakup of premium paid for ur parents seperately.

CS LLB Pulkit Gupta

CS LLB Pulkit Gupta (Expert)
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05 March 2011 Amount of Deduction

Individual - Well two types of deduction is provided to him . One on the premium paid for the medical cover of himself,spouse and children and an additional deduction on payment of premium for parents (both dependents and non-dependents)

Basic - 15000 + 5000 (extra if anyone is senior citizen)

Additional - for medicalim policy of parents 15000 + 5000 extra (if they are senior citizen)

INSERT (AY 2008-09)
Additional deduction of Rs. 15,000 under Section 80D is allowed to an individual who pays medical insurance premium for his/ her parent or parents.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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05 March 2011 https://taxguru.in/income-tax/all-about-deduction-us-80d-for-mediclaim-premium-available-to-individual-huf-and-senior-citizens.html

Please go to above link. Read carefully, all your queries will be solved.

CS LLB Pulkit Gupta

CS LLB Pulkit Gupta (Expert)
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05 March 2011 For more details u can refer my article on 80D & Medical Insurance :-
https://www.caclubindia.com/articles/80d-key-deduction-for-good-financial-planning-8413.asp
https://www.caclubindia.com/articles/-essentials-of-health-policy-or-good-medical-insurance-8414.asp

CA Ghanshyam Joshi

CA Ghanshyam Joshi (Expert)
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18 February 2014 Please visit the link -
https://taxclick.org/type/students/deduction-in-respect-of-health-insurance-premium-----sec-80d-of-income-tax-act

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