Deduction under section 80d
This query is : Open
04 September 2017
What shall be the deduction allowable under section 80D in the following case:
Medical insurance premium paid by cheque-
1. For self, spouse and dependant children Rs. 35,000
2. For father aged 62 years Rs. 3,500
3. For mother aged 58 years Rs. 27,000
Is the answer Rs. 55,000 (i.e. 25,000+30,000) or Rs. 53,500 (i.e. 25,000+28,500)?
Medical insurance premium paid by cheque-
1. For self, spouse and dependant children Rs. 35,000
2. For father aged 62 years Rs. 3,500
3. For mother aged 58 years Rs. 27,000
Is the answer Rs. 55,000 (i.e. 25,000+30,000) or Rs. 53,500 (i.e. 25,000+28,500)?
04 September 2017
Medical insurance paid for self, spouse and children is deductible up to Rs.25000.
For your parents, up to Rs.30000 is deductible (28500 in your case)
For your parents, up to Rs.30000 is deductible (28500 in your case)
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04 September 2017
(For your parents, up to Rs.30000 is deductible (28500 in your case)
Dear Srinivas Sir..
He is not Senior Citizen....
The insurance paid from his hand then how he get 28500. I think he ll get 25k....!?
04 September 2017
Raja sir
I concluded on the following basis.
Self,spouse,children - Deduction allowed is Rs.25,000
If either the assessee or spouse or both are senior citizens - deduction allowed is Rs.30,000
Parents,even if one of them is senior citizens, deduction allowed is Rs.30000 maximum
Please share your views
I concluded on the following basis.
Self,spouse,children - Deduction allowed is Rs.25,000
If either the assessee or spouse or both are senior citizens - deduction allowed is Rs.30,000
Parents,even if one of them is senior citizens, deduction allowed is Rs.30000 maximum
Please share your views
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05 September 2017
Raja sir,
father is a senior citizen as he is of the age above 60 years and resident in india for the purpose of section 80D, hence higher limit of Rs. 30,000 shall be applicable in respect of parents.
father is a senior citizen as he is of the age above 60 years and resident in india for the purpose of section 80D, hence higher limit of Rs. 30,000 shall be applicable in respect of parents.
05 September 2017
Thank you K Srinivas Sir.
The deduction in respect of "assesssee and his family" will be Rs. 25,000 because none is a senior citizen.
I agree with this.
But in respect of parents, total medical premium is 30,500 [27000+3500].
As you have written, if either of parents is senior cirizen [in my case father is above 60 years] so this limit should be 30,000.
The deduction should be lower of 30000 or 30500=30,000
But why should deduction be only 28,500 in respect of parents. Is the limit of non senior citizen individually applicable or just in aggregate.
Whether the rule is:-
(a) Maximum limit on senior + non senior citizen is 30,000
OR
(b) Maximum limit on non senior citizen is 25,000
and,
maximum limit on senior+non senior citizen is 30,000
As per your answer, I think option (b) is right.
I am particularly confused whether the limit on non senior citizen is individually applicable to them as 25,000? Or only aggregate limit shall be effective i.e. 30,000?
The deduction in respect of "assesssee and his family" will be Rs. 25,000 because none is a senior citizen.
I agree with this.
But in respect of parents, total medical premium is 30,500 [27000+3500].
As you have written, if either of parents is senior cirizen [in my case father is above 60 years] so this limit should be 30,000.
The deduction should be lower of 30000 or 30500=30,000
But why should deduction be only 28,500 in respect of parents. Is the limit of non senior citizen individually applicable or just in aggregate.
Whether the rule is:-
(a) Maximum limit on senior + non senior citizen is 30,000
OR
(b) Maximum limit on non senior citizen is 25,000
and,
maximum limit on senior+non senior citizen is 30,000
As per your answer, I think option (b) is right.
I am particularly confused whether the limit on non senior citizen is individually applicable to them as 25,000? Or only aggregate limit shall be effective i.e. 30,000?
05 September 2017
3500 (senor citizen father), 25000 ( 58 year old mother) and 25,000( for self ,spouse and children) aggregating to 53,500 is eligible u/s 80D.
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05 September 2017
Thank you experts for your valuable inputs!
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