Dear Sir
I know there is a tax exemption for medical reimbursement upto 15000/- for dependants and Rs.20000/- for senior citizen. My doubt is can we claim Rs.15000/- for spouse and children and Rs.20000/- for Parents over and above Rs.15000/- My parents are dependant on me only.
Awaiting your reply soon.
Regards
Roshni
Dear Sir,
The deduction amount you are talking about is medical reimbursement. however Medical reimbursement and medical insurance premium are different from each other.
You are entitled to maximum maount of Rs 15000 as medical reimbursement.
for Medical Premium u/s 80D you are eligible for Rs 15000 if medical insurance paid for you or your spouse or dependent children. However if you are a Senior Citizen then the above amount is enhanced to Rs 20000.
also if medical premium is paid for parents then additional 15000 deduction is allowed and if parents are senior citizen then the amount is enhanced to Rs 20000. -
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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