06 October 2013
i spent around 7500 for my mom's treatment in the last year for medicines and check ups as she was in pain in her back and legs can i claim deduction u/s 80d or in sub sections of 80d???
06 October 2013
Section 80D provides for tax deduction from the total taxable income for the payment (by any mode other than cash) of medical insurance premium paid by an Individual or a HUF. This tax deduction is available over and above the deduction of Rs. 1,00,000 under Sec. 80C.
Currently, a deduction of Rs. 15,000 in respect of health insurance premium of self, spouse and dependent children and a further deduction of Rs. 15,000 is allowed for buying a health insurance policy in respect of parents.
A deduction of maximum Rs. 5,000 is proposed in respect of preventive health checkup of self, spouse and dependent children and parents of the assessee.
However the deduction under this provision will be within the overall limit as prescribed above.
as the law stands today, you can claim deduction for medical expenses, other than medical insurance premia, only for the persons ans diseases covered under 80ddb.
However if u r a salaried person, u can benefit if your employer agrees to structure ur salary to include medical expenses upto 15000 per year. Such reimbursement shall be non-taxable