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Deductions under 80d two policies

ITR 1061 views 7 replies

Francis Rodrigues

Programmer

30 Points Joined March 2015

Hi,

I have two Health Insurance Policies (Family floaer) both cover my Mom. The premium is Rs. 9406 and 28393. My mom is a senior citizen (60 years).

So can i claim upto 35000 (15000+20000)? or do i have to consider only my moms part of the premium from the policy.

Thanks & Regards,

Francis

Replies (7)

Kishor Bhat

CA final CS executive (from Bangalore)

1881 Points Joined June 2008

If the health insurance policy is for senior citizens then aggregate premium of Rs 20000 can claim as deduction u/s 80D. So, in ur case, deduction available for u is ₹20,000 only.

CA Anu Sharma

job seeker

33 Points Joined April 2011

For fy 2015-16. the limit has been increased to 30000

Supriyo Banerjee

Executive Finance

181 Points Joined June 2011

Absolutely for FY 2014-15 the maximum deduction U can claim in your case is Rs 20,000. Since maximum limit fixed for health insurance premium is Rs 20,000 u/s 80D. But from Fy 2015-16 onwards one can claim upto 30,000.

Guest

Under Family floater health insurance, the customer has the option to include self, spouse, children and parents thus getting a full family medical insurance coverage.So, If the health policy covers you as well as mother,you can claim deduction for 15000 (for you)+20000 (for mother).