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Mediclaim insurance premium
I need to know what is the maximum exemption limit of premium for individual and senior citizen during fy 15-16 and fy 16-17.
I understand there was an amendment to the limits.
Replies (1)
Dear Sir,
YES, THERE IS A AMENDMENT UNDER 80.D TOOK PLACE IN 2015 BUDGET, WHICH ARE MENTIONED BELOW:,
For financial year 2015-16 – Deduction for non senior citizen is raised from Rs 15,000 to Rs 25,000. The deduction for senior citizens is raised from Rs 20,000 to Rs 30,000.For uninsured super senior citizens (more than 80 years old) medical expenditure incurred up to Rs 30,000 shall be allowed as a deduction under section 80D. However, total deduction for health insurance premium and medical expenses for parents shall be limited to Rs 30,000.
The increased limit will apply from financial year 2015-16 onwards.
Regards ....
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