GST Course

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More


(Guest)

80d

Hi buddy :


2012Sorching summer comes, in order to thank everyone, characteristic, novel style, varieties, low price and good quality, and the low sale price. Thank everyone

==== ( https://www.fullmalls.com ) =====

==== ( https://www.fullmalls.com ) =====


$33 True Religion jeans, Ed Hardy jeans,LV,Coogi jeans,Affliction jeans

$30 Air Jordan shoes,Shox shoes,Gucci,LV shoes

50%Discount winter fashion :Sandle,t-shirt,caps,jerseys,handbag and brand watches!!!

$15 Ed Hardy ,LV ,Gucci Bikini

$15 Polo, Ed Hardy, Gucci, LV, Lacoste T-shirts

$25 Coach,Gucci,LV,Prada,Juicy,Chanel handbag,

$10 Gucci,Ed Hardy sunglasses

$9 New Era caps.

give you the unexpected harvest


==== ( https://www.fullmalls.com ) =====

==== ( https://www.fullmalls.com ) =====



==== ( https://www.fullmalls.com ) =====

==== ( https://www.fullmalls.com ) =====


==== ( https://www.scnshop.com ) =====


 



 19 Replies

kgowrish

kgowrish (student)     17 August 2012

Maximum deduction is 40000.
praveen

praveen (Chartered Accountant)     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

CA Sanjay Bag (CHARTERED ACCOUNTANT)     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

S Jananikrishna (Learner)     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

Narender verma (paid assistant)     17 August 2012

yes ur totally right maximum deduction is 40 k

 

 

 

1 Like
Kushal Jain CA CS MBA MCOM

Kushal Jain CA CS MBA MCOM (Dy. Manager Commercial)     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

CA Sanjay Bag (CHARTERED ACCOUNTANT)     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

Richa Patel (Article)     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

kgowrish (student)     17 August 2012

Its 65yrs for 80D calculations...
1 Like
CA Vanamala Phani Kumar

CA Vanamala Phani Kumar (Assistant Audit Manager at TRC Bangalore)     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/

yes

1 Like
CA Shantanu Goyal

CA Shantanu Goyal (Practicing CA)     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

CA Ameya Sudame (Chartered Accountant)     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.


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  


Start a New Discussion

Popular Discussion


view more »





Subscribe to the latest topics :
Search Forum:

Trending Tags