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Deduction under Section 80-D

This query is : Resolved 
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(Querist)
15 March 2011 Facts of the case:
I am working in a PSU from where my father retired in Nov-94.
For the welfare of the retired employees, our company is providing Group Medi-claim policy through Insurance company.
The premium is being shared between the company and retired employee on 50%-50% basis.
I have paid Rs. 4000/- as premium from my taxable income for my parents's Group Medi-claim policy (our share only)through a cheque in the name of the PSU in which I am working, who in turn paid the full premium Rs. 8000/-(premium collected from the retired employees plus company's share) to the Insurance company towards the Medi-claim policy taken for retired employees.
Under above mentioned senario kindly confirm whether the premium paid by me (Rs.4000/-) for keeping the Mediclaim policy of my parents live, is eligible for deduction under section 80-D from my total taxable income.

Regards
Chohan
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O.D.SHARMA

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O.D.SHARMA (Expert)
15 March 2011 Yes,You can claim 4000/-as deduction U/S 80D
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CMA. Subhash Kumar Jha

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CMA. Subhash Kumar Jha (Expert)
15 March 2011 Yes.. provided the policy & premium receipt is in the name of your parents.
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Rameshwar Patel

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Rameshwar Patel (Expert)
06 April 2011 The ans by Subhash sir is quite right bcoz if receipt is not in name of your parents, deduction would nt be available.
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