IS THIS 80 D ?

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This query is : Resolved

AMIT (Querist)

21 July 2010
I UNDERSTAND THIS IN RESPECT OF 80D DEDUCTION IS THAT TRUE ?

A.DEDUCTION IN RESPECT OF MEDICAL INSURANCE PREMIUM

B (Mr. X ,Mrs. X and Children)then deduction upto RS. 15000

IF ANY OF THE ABOVE MENTIONED IS A SENIOR CITIZEN THAN ADDITIONAL DEDUCTION OF RS.5000 > TOTAL =20000

C (Parent of Mr.x) then deduction upto Rs.15000

IF PARENTS ARE SENIOR CITIZEN THEN ADDITONAL RS. 5000 > TOTAL = RS.20000

IF I MADE PAYMENT FOR ME AND MY WIFE(not senior citizen) then i will get RS.15000 dedcution
AND

if i made payment for My FAther (Senior citizen) then i will get RS.20000 deduction

means > 35000 is deductible under 80D ??

what i understand abt it , is that correct ?, if not please correct it

THANKS IN ADVANCE

CA Sanat Pyne

CA Sanat Pyne (Expert)

21 July 2010
yes
maximum 40000/ will be applicale.by making two policy.
one in the name of assessee and his family
other assessee and his parents.

srinath

srinath (Expert)

21 July 2010 as rightly pointed out by the querist u can get deduction of more than 35000 that is even 40000 if the following conditions are satisfied

if the assessee is senior citizen he can get Rs. 20000/- and if he pays in his parents name seperately then another 20000/- can be claimed

there are two deductions here. one for self and the other for parents.

AMIT

AMIT (Querist)

22 July 2010 SIRS, I WOULD LIKE TO CONSIDER THIS ALSO

Q1. WHAT I WROTE IN REGARDING MY UNDERSTANDING ABT 80 D IS THAT CORRECT ?

Q2. ASSESS IS NOT SENIOR CITIZEN SO HE CAN GET ONLY 15000 AS DEDUCTION
AND
HIS PARENT ARE SENIOR CITIZEN SO HE CAN GET 15000+5000, IS THAT CORRECT ?

IF IT IS NOT CORRECT ,
PLEASE PROVIDE ME HOW TO GET DEDUCTION UNDER THIS CHAPTER,I M CONFUSED

THANKS

srinath

srinath (Expert)

22 July 2010 If assessee is not a senior citizen he would be eligible for 15000/-. If assessee's paretns are senior citizen then he would be eligible for another 20000/- ie in short he would be eligible for 35000

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