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....
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.
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.
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.
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.
Please go to above link. Read carefully, all your queries will be solved.
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
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
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
https://taxclick.org/type/students/deduction-in-respect-of-health-insurance-premium-----sec-80d-of-income-tax-act
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