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Tax rebate under 80D ....

RAKESH JAIN (RETIRED COMPUTER PROFESSIONAL)   (369 Points)

22 March 2010  

My understanding is that tax rebate U/S 80D is available for all Individual/Family Floater Health/Mediclaim Policies. Recently I bought a policy but its document mentions that 80D is not applicable for it. They have not mentioned the reason for it. I am contacting company repeatedly to explain the reason but do not receive any reply. Can anybody suggest under what circumstances 80D may not apply to a Health Policy bought for a familiy?

 

Thanking you. Best regards, RAKESH


 10 Replies

Rajat Singhal CA,CS,CFA (Senior Manager (F&A)) (249 Points)
Replied 22 March 2010

1 Like

RAKESH JAIN (RETIRED COMPUTER PROFESSIONAL)   (369 Points)
Replied 22 March 2010

Dear Mr. Rajat,

Thanks your reply but I am still looking for answer to "Under what circumstances, 80D is not applicable to a Healt/Mediclaim Policy?".

Thanking you. Best regards, RAKESH

shushantsinghal (BCOM(HONS),C.A) (283 Points)
Replied 22 March 2010

in my opinion u had taken personal policy ...........

shushantsinghal (BCOM(HONS),C.A) (283 Points)
Replied 22 March 2010

u might be confusing b/w medicliam & personal policy.... 

Dhruvesh Shah (partner) (443 Points)
Replied 22 March 2010

Originally posted by : RAKESH JAIN


My understanding is that tax rebate U/S 80D is available for all Individual/Family Floater Health/Mediclaim Policies. Recently I bought a policy but its document mentions that 80D is not applicable for it. They have not mentioned the reason for it. I am contacting company repeatedly to explain the reason but do not receive any reply. Can anybody suggest under what circumstances 80D may not apply to a Health Policy bought for a familiy?

 

Thanking you. Best regards, RAKESH

 

 

1st u confirm it is mediclaim only???? And u cannot get deduction if the payment of mediclaim is made in cash then it is not available.

manikandan.J (Accounts Manager) (363 Points)
Replied 22 March 2010

hi

dhruvesh shah   Rabate on mediclaim Sec80D allowed only rs.15000 for individual and depends only

for example:A person individual he is not married he is liable to pay tax such  the cirucumstances he can only claim Rs.15000/- self policy other than he can't claim any other person on your dependent, where as married person he can claim the family members that means spouse or dependent mentioned in the clearly Income tax ready reckoner refer the clearly

by

manikandan

 

manikandan.J (Accounts Manager) (363 Points)
Replied 22 March 2010

hi

dhruvesh shah   Rabate on mediclaim Sec80D allowed only rs.15000 for individual and depends only

for example:A person individual he is not married he is liable to pay tax such  the cirucumstances he can only claim Rs.15000/- self policy other than he can't claim any other person on your dependent, where as married person he can claim the family members that means spouse or dependent mentioned in the clearly Income tax ready reckoner refer the clearly

by

manikandan

Dhruvesh Shah (partner) (443 Points)
Replied 22 March 2010

 

Originally posted by : manikandan.J

hi

dhruvesh shah   Rabate on mediclaim Sec80D allowed only rs.15000 for individual and depends only

for example:A person individual he is not married he is liable to pay tax such  the cirucumstances he can only claim Rs.15000/- self policy other than he can't claim any other person on your dependent, where as married person he can claim the family members that means spouse or dependent mentioned in the clearly Income tax ready reckoner refer the clearly

by

manikandan

 manikandan it is not like that. One can claim Rs.15,000/- on his, spouse and dependent children. And additional rs.15000/- on his dependent resident parents. And if individual or parents is senior citizen then the limit increases to Rs.20000/-

Kishor Dipnaik (Sr. Accounts Executive) (23 Points)
Replied 07 March 2012

Dear Sir,

If the mediclaim Policy is for 2 years. Payment of premuim made together for 2 years. 

How should I claim it ?

1. Should I claim it for 2 years separately on yearly basis.

2. Should I claim it in the year when premium paid full amount.

regards,

 

Kishor Dipnaik

Anooj (Chartered Accountant) (2130 Points)
Replied 07 March 2012

Originally posted by : Dhruvesh Shah

 




Originally posted by : manikandan.J






hi

dhruvesh shah   Rabate on mediclaim Sec80D allowed only rs.15000 for individual and depends only

for example:A person individual he is not married he is liable to pay tax such  the cirucumstances he can only claim Rs.15000/- self policy other than he can't claim any other person on your dependent, where as married person he can claim the family members that means spouse or dependent mentioned in the clearly Income tax ready reckoner refer the clearly

by

manikandan






 manikandan it is not like that. One can claim Rs.15,000/- on his, spouse and dependent children. And additional rs.15000/- on his dependent resident parents. And if individual or parents is senior citizen then the limit increases to Rs.20000/-


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