mediclaim-insurance

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Ravichandran (Querist)
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03 February 2011 Senior Citizen (Assessee) have paid the mediclaim insurance premium for Rs.21000/ for himself & his dependent. Which amount he can get deduction from income tax under chapter 80d

Ravichandran

BALASUBRAMANYA B N

BALASUBRAMANYA B N (Expert)
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03 February 2011 * For senior citizens i.e an individual resident who is of the age of 65 years or more at any time during the relevant previous year: The amount of heath insurance premium paid or Rs. 20,000, whichever is less.
* For non-senior citizens: The amount of health insurance premium paid or Rs. 15,000, whichever is less.

s v rajesh

s v rajesh (Expert)
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03 February 2011 As per Sec.80D - The maximum benefit he can get for paying Medi Claim Premium is Rs.15000/20,000 for senior citizen for self or dependants + additional benefit of Rs.15000/20000 if the premium is paid for parents.
In your case the assessee is itself a senior citizen the max benefit will be Rs.20,000.

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