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)
Follow

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)
Follow

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)
Follow

05 March 2011 http://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)
Follow

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)
Follow

18 February 2014 Please visit the link -
http://taxclick.org/type/students/deduction-in-respect-of-health-insurance-premium-----sec-80d-of-income-tax-act