Mediclaim--u/s 80 d--
Charudutta R. Mhalgi
(Querist) 09 March 2012
This query is : Resolved
To
Respected Sir,
Query regarding Mediclaim u/s 80 D--Income Tax Act.Previously it was Rs.15000/-If anybody invested Rs.20000/-if the policy covers a Senior Citizen.If anybody invested Rs.15000/- without Sr.Citizen and invested Rs.20000/- for Sr. Citizen whether he will get exemption of Rs.35000/-or not. What is the maximum benefit for Mediclaim u/s 80 d?
Kimdly advice for the same.
ajay sethi
(Expert) 09 March 2012
visit CA club india for your income tax queries
Sailesh Kumar Shah
(Expert) 10 March 2012
whether he will get exemption of Rs.35000/-or not?
Answer: Yes, (15000+2000)=35000 is eligible deduction u/s 80D.
ajay sethi
(Expert) 10 March 2012
good to see you back shailesh shah . where did you disappear?
Sailesh Kumar Shah
(Expert) 10 March 2012
Thanks Sir.
due to some extra work, i am unable to come here.
C. P. CHUGH
(Expert) 12 March 2012
Section 80-D allows the following deductions in case of an individual :
Upto Rs. 15000.00 paid as premiums for health insurance for self and family.
Upto Rs. 20000.00 paid as premium on health insurance for self and familiy in case of Senior Citizens.
Upto Rs. 20000.00 paid as premiun on health insurance for dependent parents.
Hence in case one is taking care of his dependent parents and paying upto Rs. 20000.00 as health insurance premium and also paying upto Rs. 15000.00 for self and family he is entitled for a deduction of Rs. 350000/- or Rs. 40000/- as the case may be.
