Section 80D

The total amount paid by the Salaried employee on Medical Insurance Premium u/s 80D should not be more than 10,000 /-  However for senior citizent it can be upto 15,000/-.

Ie., if the assessee has paid Medical insurance premium on spouce and kids the amount should not exceed 10000/- PA, If the Medical Insurance Premium was paid for senior citizen, then it should be more than 15000/-.

That means one person can claim upto Rs. 25000=00

Rs. 10,000 For Mediclaim policy on own, spouse, children

Rs. 15,000 For his parents. ( Over and above of Rs. 10,000 )

Is this correct ?

Amit

Section 80D has been amended w.e.f AY 2009-10 -

An assesee is entitled to a deduction of Rs. 15000 in respct of medical premia paid on the health of himself, his spouse and children. If any of them is a senior citizen, then he shall be entitled to a mximum deduction of Rs. 20000/- as a whole.

In addition thereto, if he pays insurance premia on the health of his parents, whether dependant or not, he will be entitled to additional deduction of Rs. 15000/- (senior citizen - Rs. 20000/-)

To sum up, the assessee is entitled to maximum deduction of Rs. 30000 if he pays premium on the health of his parents  as well on health of his wife and children. the deduction shall be max Rs. 40000 if his parents are senior citizen and either he or his spouse is a senior citizen

Thanks all of you for providing latest info,

Amit