12 October 2009
As per section an assesse will get benifit upto Rs 20000 for payment of mediclaim for the dependent parents. Now let us take a case what happen if the age of father is 66 years (say premium amount rs 14000) so he will be senior citizen and the age of mother is say 60 years, so she is not senior citizen (say premium amount rs 5000) . In such a situation what will be the eligible amount for deduction. what if the premium in consolidate is Rs 19000 in such a situation what will be deduction ?
If individual policy of Fathe Rs.14000 andfor Mother Rs. 5000
Then Basdic decuction for Parents 15000 and additional upto 5000 for father so 20000 is max limit in your case. and even if the consolidated premium is 19000 then also the status is same.
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