In case of Deduction under section 80D i have one doubt. In a case where the husband and wife was filing ITR seperately, they have taken a familiy medical insurance policy of Rs. 50 Lakh (Annual Premium Rs. 50000). At the time of filing ITR, each one claim Rs. 25000 as deduction under section 80D. Whether the procedure was correct or whether seperate insurance policy should be taken individually?
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Medical Insurance 80D
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But family insurance policy will get deduction u/s 80C
80D is medical premium deduction.
Whether such family insurance policy is medical premium in nature?
80D is medical premium deduction.
Whether such family insurance policy is medical premium in nature?
Yes Family Medical Insurance
Then deduction shall be available to that person who have the whole premium, if it is paid partly by both of them then deduction shall be available to both of them
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