IMPORTANT PLZ ANSWER IT

80 D : Medical Insurance Premium  :

The following deduction can be claimed:

i) Rs. 15000 (Rs 20000 for senior citizen) and Additional Rs 15000 for the insurance of parents ( Rs. 20000 in case parents are senior citizen)

ii) Parents and spouse need not be dependent, where as child shall be a dependent to avail this deduction.

Agree with Sandeep.....

Section 80 D (Deduction in case of Premium of mediclaim policy)
 

Deduction is allowed only to an individual & HUF in case of payment of premium towards a mediclaim policy and payment should be made otherwise then in cash.

Deduction is allowed equal to the amount of premium paid but maximum RS 15000 for self, spouse and dependant children.But if premium has been made for a senior citizen, additional deduction is allowed upto RS 5000.

If the assesse has taken a policy in the name of parents whether dependant or independant ,deduction shall be allowed to extent of Rs 15000 and in case of senior citizen, additional deduction is allowed upto Rs 5000.

Example: Mr X has paid premium of mediclaim policy by cheque with particulars as given below

Mr X------------------------ RS 7000

Mrs X---------------------- RS 6000

Dependent Son-------- RS 4000

Dependant Daughter---- Rs 3000

Father of Mr X---------------Rs 10000

Mother of Mr X--------------Rs 7000

Total Deduction =30000

And if Father , mother & Mr X  is senior citizen, in this case deduction allowed shall be Rs 37000

                                           mediclaim premium paid in respect

                                         self,spouse&                parents,                     Total deduction

                                     dependentChildren          dependent or not           u/s.80D

No one attained

the age of 65yrs:                Rs.15,000                      Rs.15,000                Rs.30,000

Assesse is less

than 65yrs of age                 

and parent is a senior citizen:  Rs.15,000              Rs.20,000               Rs.35,000

both attained the age 

of 65yrs                        :              Rs.20,000               Rs.20,000                Rs.40,000

 mediclaim premium paid in respect

                                         self,spouse&                parents,                     Total deduction

                                     dependentChildren          dependent or not           u/s.80D

No one attained

the age of 65yrs:                Rs.15,000                      Rs.15,000                Rs.30,000

Assesse is less

than 65yrs of age                 

and parent is a senior citizen:  Rs.15,000              Rs.20,000               Rs.35,000

both attained the age 

of 65yrs                        :              Rs.20,000               Rs.20,000                Rs.40,000

thanku everybody it was gr8 to get answers bye thanks alot once again

i) Rs. 15000 (Rs 20000 for senior citizen) and Additional Rs 15000 for the insurance of parents ( Rs. 20000 in case parents are senior citizen)

ii) Parents and spouse need not be dependent, where as child shall be a dependent to avail this deduction

n 80dd fully handicaped 75000

and partly handicap 50000

hi abhinav theres nothin as fully & partly handicap its based on severity