Planning to purchase mediclai for my parents. Father is senior citizen but mother is not. Now I have heard that if son want to get the IT benefit from that parent's mediclaim then insured person will be parent as the mediclaim is doing for parent but proposer name should be the son who is going to pay. Please confirm whether this is true or it is ultimately depends who is paying i.e. parent or son.
It is proposer who can claim the deduction, provided he pays the premium.
Actually Mediclaim is done for parents but by mistake propser name is mentioned in the name of father instead of son. I tried to do as below:
Proposer : son
Insured: parents
But happened below
Proposer: father
Insured: father and mother
But ultimately amount is deducting from son's bank account. I am not sure where son name is mentioned in receipt.
Can son claim benefit?
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
View Details
CAclubindia
