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80d

Richa Patel (Article) (166 Points)

17 August 2012

Can any one pls tel me whether u/s 80D total deduction available is 35000 or 40000?

I mean suppose i am an senior citizen so deduction allowed for me is 20000/- n i also pay my parents mediclaim n obviously they are evn senior citizen..so i would g8 deduction of 20000 additionally. means totally deduction of 40000..ri8? or 35000?

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19 Replies

kgowrish (student) (66 Points)
Replied 17 August 2012

Maximum deduction is 40000.

praveen (Chartered Accountant) (6971 Points)
Replied 17 August 2012

maximum deduction possible is Rs.40,000.

for this the assessee has to be a senior citizen and must have paid premium of parents also,

1 Like

CA Sanjay Bag (CHARTERED ACCOUNTANT) (3340 Points)
Replied 17 August 2012

Yes, the maximum deduction available is Rs.40,000/-

(Guest)

Irrespective of No of Senior Citizens , Even One Is Senior : Limit Is 20000 provided the policy premium is above 5000 and For Ordinary Is 15000..

So Total Is 35000.. Not 40000.. Its The Mistake every one commits.. But pls make this correction...

1 Like

S Jananikrishna (Learner) (218 Points)
Replied 17 August 2012

It is 35000/- only and not 40000/-

The general deduction available to each taxpayer is Rs.15,000, for self, spouse and children. An additional deduction for parents is Rs. 15,000. If the amount paid is for a senior citizen, then one can claim an additional exemption of Rs.5,000.

1 Like

Narender verma (paid assistant) (31 Points)
Replied 17 August 2012

yes ur totally right maximum deduction is 40 k

1 Like

Kushal Jain CA CS MBA MCOM (Dy. Manager Commercial) (44 Points)
Replied 17 August 2012

Mr. Anand & Mr. S Jananikrishna you both are wrong... if assessee is senior citizen then he can claim 20,000 as deduction and same in the case of parents... so 40,000 is the maximum amount of deduction U/s 80D

1 Like

CA Sanjay Bag (CHARTERED ACCOUNTANT) (3340 Points)
Replied 17 August 2012

Yes, I repeatedly confirmed you that if a senior citizen claimed deduction under section 80D he can avail deduction upto Rs. 40,000. and there is no mistake.

1 Like

Richa Patel (Article) (166 Points)
Replied 17 August 2012

Originally posted by : CA Kushal Jain
	Mr. Anand & Mr. S Jananikrishna you both are wrong... if assessee is senior citizen then he can claim 20,000 as deduction and same in the case of parents... so 40,000 is the maximum amount of deduction U/s 80D

sir can i knw how do u define senior citizen?above 60 or 65?paduka shws its in bold l8rs as 65 while ri8 nw age is 60 for assessee to b a senior citizen..r der different limits in both cases?

kgowrish (student) (66 Points)
Replied 17 August 2012

Its 65yrs for 80D calculations...

1 Like

CA Vanamala Phani Kumar (Proprietor of M/s Vanamala and Co) (972 Points)
Replied 17 August 2012

PERSON	AGE BELOW 65 YEARS (80D Limit)	AGE 65 AND ABOVE 65 YEARS(SENIOR CITISZEN) (80D Limit)
Assessee+Spouse+childern	15,000	20,000
Parents	15,000	20,000

Max deduction Rs.40,000 for your query......!!!

Senior Citizen Age changed to 60 Years from 65 as from FY 2012-13

For more details see these link

https://taxworry.com/senior-citizen-age-80d-80ddb/

1 Like

CA Shantanu Goyal (Practicing CA) (122 Points)
Replied 17 August 2012

Section 80D (4) states that where the sum is paid for senior citizen then sum specified in Clause (a) or (b) or sub-section (3) shall be taken as 20000/-

so in your case it is 40000/-

1 Like

CA Ameya Sudame (Chartered Accountant) (37 Points)
Replied 18 August 2012

Rs. 20000 deduction can be claimed for premium paid for self policy if assessee is senior citizen. Also he can claim additional Rs. 20000 for premium paid for his parents. The intension of clause to sec 80D of giving additional Rs. 5000 exemption is only to provide additional relief to senior citizens. For this particular clause, age of senior citizen shallbe taken as 65 years. However this does not makes difference as from FY 2012-13 , normal age limit of senior citizen has been decided as 65 years only.

CA Sanjay Bag (CHARTERED ACCOUNTANT) (3340 Points)
Replied 18 August 2012

Yes , please note down that for the purpose Income Tax Slab the age for Senior Ctizen is 60 years but for any other pupose (even for Section 80D) it should be taken as 65.