In case an individual makes the following contributions towards health insurance premium then what is the deduction available to him u/s. 80D.
Insurance premium of Self Rs.25,000/-
Insurance premium of Spouse Rs.24,000/-
Insurance premium of Son Rs.17,000/-
The above mentioned individual & spouse are senior citizens i.e above 60 years of age.
| Particulars | Deduction Allowed | Total Deduction |
| Case 1. Children - Dependent | 20000+20000+15000 | 55000 |
| Case 2. Children -Not Dependent | 20000+20000+0 | 40000 |
As the individual and his spouse are senior citizens the total deduction available to him u/s 80D shall be Rs.20000/- provided the payment is made by any mode,other than cash, in the previous year out of his income chargeable to tax.
Anupam Parashar & Co.
Ghaziabad
CA Final
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Bharat Shah & Associates
Mumbai
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