Medical Insurance 80D

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?

Replies (3)
Quick Summary
This discussion clarifies how medical insurance premiums are treated for tax deductions under Section 80D, especially for married couples filing separately. It addresses whether a family medical insurance policy can be split for deductions or if individual policies are necessary. The consensus is that a family policy's premium can be claimed by the person who paid it, or split if paid jointly, ensuring tax benefits are correctly applied.

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?

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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