IS THIS 80 D ?

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AMIT (Querist)
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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)
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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)
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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)
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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)
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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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