income 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?
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Income tax section 80 d
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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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