Deduction U/s. 80D

Hiiiii

Deduction u/s 80 D is allowed to an individual & HUF

Medical insurance premium paid in other than cash will be allowed as deduction.Following are the amount of deduction:

In case senior citizen                            amount paid or Rs.20000/-will be allowed as deduction (which ever is lower)

other than senior citizen                       amount paid or Rs.15000/- will be allowed as deduction (which ever is lower)

Bye

IF COMPANY MAKE GROUP MEDICLAIM INSURANCE COMPANY FOR EMPLOYEES, THEN SUCH MEDICLAIM EXP IS NOT TAXABLE IN HAND OF EMPLOYEE AND COMPANY IS GETTING DEDUCTION AGAISNT IT  AS A EXPENSE

IN YOUR CASE , EMPLOYEE HAS TAKEN MEDICLAIM POLICY INDIVIDUALLY IN HIS NAME. AND COMPANY IS REMIBURSING THIS . THIS WILL BE TAXABLE IN HAND OF EMPLOYEE AND EMPLOYEE WILL BE ELIGIBLE FOR CLAIMING DEDUCTION FOR IT .

IE. NO IMPACT ON TOTAL INCOME, FIRST ADD IN SALARY AS PERQ THEN CLAIM DEDUCTION U/S 80D.

Hi Dear,

Reimbursement of medicalim premium will be taxable under section 17(4) of the income tax act.

Further, medicalim insurance paid by u would be eligible for deduction under section 80D. Thus no impact on Net Taxable Income.

Regards,

Manoj

Originally posted by : Manoj B. Gavali
	Hi Dear,   Reimbursement of medicalim premium will be taxable under section 17(4) of the income tax act.   Further, medicalim insurance paid by u would be eligible for deduction under section 80D. Thus no impact on Net Taxable Income.   Regards,   Manoj

agree nwith manoj totally.eligibility for deduction is that person should be individual or HUF and only deduction upto 15000/- can be claimed..

agree with Mr. Manoj and Bijender.........