VERY URGENT : Section 80 D ?

This query is : Open

Ashish Kumar (Querist)
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20 March 2009 I am Ashish kumar from Hyderabad pursuing IPCC. I want to take coaching in New Delhi. Which is the best teaching professional for individule paper. I want to talk any CA student from Delhi. Please give me your no. or call me on this no. 09959986907 or 9346341756.

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Querist)
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20 March 2009 Sir,

Our employee has submitted a mediclaim receipt to claim the income tax benefit.

This policy is in the name of his parents & the policy nowhere mentions the employee's name on it. However, he is claiming that the payment for this policy has been made by him only.

Now, what is the employer's liability in this regard? Can we admit this document as valid for IT relief ?

Reply urgently,

Thanks

Subhash

Manmohan ACA, CS

Manmohan ACA, CS (Expert)
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20 March 2009 As per section 80Dan assessee paid mediclaim on for himself or his relative is eligible for deduction u/s 80D.,
A individual assessee can claim deduction u/s 80D for mediclaim paid on his/her own policy, spouse, dependant children policy up to Rs. 15000
Again w.e.f. AY 2008-09 employee can also claim deduction u/s 80D for mediclaim paid on life pd parents up to Rs 15000.

So employee id eligible for deduction in respect of medicalim paid on policy of parents

CA Tilak Raj Sharma

CA Tilak Raj Sharma (Expert)
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20 March 2009 If the premium is paid by cheque then it should be paid out of the bank account of you employee.

As from A.Y. 2008-09, payment can be made by any mode so if the policy premium is paid in cash your employee can take the benefit. Just take the copy of policy and give him exemption. No liability for you in this behalf.

CA LOKESH KASAT, FCA, M.Com

CA LOKESH KASAT, FCA, M.Com (Expert)
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20 March 2009 Yes, he is eligible, but in your case just make sure that parents are dependant on assessee, then only he can avail deduction under this section. you can do this by taking declaration from employee that parents are dependant on him.

CA LOKESH KASAT, FCA, M.Com

CA LOKESH KASAT, FCA, M.Com (Expert)
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20 March 2009 answered

CA LOKESH KASAT, FCA, M.Com

CA LOKESH KASAT, FCA, M.Com (Expert)
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20 March 2009 answered

Manmohan ACA, CS

Manmohan ACA, CS (Expert)
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22 March 2009 answered

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