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Lump sum health insurance for senior citizen

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Mechanical
215 Points Posted on 15 October 2020
at age 61,
if I pay 75000 towards health insurance premium for a period of 5 years,then can I claim(80D) it in same year or divide the premium in subsequent years?
please clarify?
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On 15 October 2020 at 23:23 Report
Replies (4)
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Tax consultant
5895 Points Posted on 15 October 2020
You get the benefits in the same year on which you have made the payment
1 Reply
On 15 October 2020 at 23:28
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12244 Points Posted on 16 October 2020
You have to apportion the total premium paid by number of years in case of premises paid for more than one year. in your case you can claim 15000 for 5 years
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On 16 October 2020 at 03:37
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363 Points Posted on 16 October 2020
Mr. Rama jee are correct .
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On 16 October 2020 at 07:43
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Tax consultant
5895 Points Posted on 16 October 2020
Sorry my ans is wrong in your senerio
what rama krishna sir says is right you have to divide your amout 75000 for 5 year's
in addition to it being senior citizen you can take other benifit of 80 D.
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On 16 October 2020 at 11:39


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