siddharth (properitor consultant) (224 Points)
02 June 2011income tax sec. 80 d? i am in need to understand to its use for my future investment.. MY QUARRY -i am willing to invest 15ooo/- individually in mediclaim policy premium above my 1 lac other investment for my annual income which is around 3 lac rupees. do i get benifit for myself? my wife is also earning same, should she also get same benefit?
CA Chintan Vyas
(Chartered Accountant)
(116 Points)
Replied 02 June 2011
You will have deduction of Rs.15000 for your mediclaim
In case mediclaim of your wife, then your wife should get deduction.
Maximum deduction under 80 D is Rs. 40000, if assessee and his parents are senior citizen.
You can get deduction under 80 D as under :
Mediclaim of Your and Wife : Maximum upto 15000 (If senior Citizen then 20000)
Mediclaim of Parents : maximum upto 15000 (IF senior Citizen then 20000)
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