Deductions

This query is : Resolved

ritu mehta (Querist)
Follow

03 May 2013 ques1:-
Mr A (50yrs) paid mediclaim ins for:-
himself -Rs 12000
wife - Rs 6000
father(64 yrs) - Rs 22000
mother(59 yrs) - Rs 17000
how much ded he get u/s 80d?

ques2:
and if he pays Rs 6000 for his parents and for himself towards preventive health check up then how ded he get?

ques3:- paid reimbursed
Mr A (50 yrs) - Rs 50000 Rs 20000
spouse - rs 40000 rs 20000
father (64) - Rs 70000 Rs 20000
mother (59) - Rs 60000 Rs 10000
how much he get ded u/s 80ddb?

pls.........reply fast with full explanation........thanx

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
Follow

14 June 2013 For expenses and reimbursement the limit is 15000 and for health checkup it is 5000. In this all family members are included. For your information the provision of section 80D are as below:

80D. (1) In computing the total income of an assessee, being an individual or a Hindu undivided family, there shall be deducted such sum, as specified in sub-section (2) or sub-section (3), payment of which is made by any mode 95[as specified in sub-section (2B),] in the previous year out of his income chargeable to tax.
(2) Where the assessee is an individual, the sum referred to in sub-section (1) shall be the aggregate of the following, namely:—
(a) the whole of the amount paid to effect or to keep in force an insurance on the health of the assessee or his family 96[or any contribution made to the Central Government Health Scheme] 96a[or such other scheme as may be notified by the Central Government in this behalf] 97[or any payment made on account of preventive health check-up of the assessee or his family]as does not exceed in the aggregate fifteen thousand rupees; and
(b) the whole of the amount paid to effect or to keep in force an insurance on the health of the parent or parents of the assessee 97[or any payment made on account of preventive health check-up of the parent or parents of the assessee]as does not exceed in the aggregate fifteen thousand rupees.
Explanation.—For the purposes of clause (a), "family" means the spouse and dependant children of the assessee.
97[(2A) Where the amounts referred to in clauses (a) and (b) of sub-section (2) are paid on account of preventive health check-up, the deduction for such amounts shall be allowed to the extent it does not exceed in the aggregate five thousand rupees.
(2B) For the purposes of deduction under sub-section (1), the payment shall be made by—
(i) any mode, including cash, in respect of any sum paid on account of preventive health check-up;
(ii) any mode other than cash in all other cases not falling under clause (i).]
(3) Where the assessee is a Hindu undivided family, the sum referred to in sub-section (1) shall be the whole of the amount paid to effect or to keep in force an insurance on the health of any member of that Hindu undivided family as does not exceed in the aggregate fifteen thousand rupees.
(4) Where the sum specified in clause (a) or clause (b) of sub-section (2) or in sub-section (3) is paid to effect or keep in force an insurance on the health of any person specified therein, and who is a senior citizen, the provisions of this section shall have effect as if for the words "fifteen thousand rupees", the words "twenty thousand rupees" had been substituted.
Explanation.—For the purposes of this sub-section, "senior citizen" means an individual resident in India who is of the age of 98[sixty years] or more at any time during the relevant previous year.
(5) The insurance referred to in this section shall be in accordance with a scheme99 made in this behalf by—
(a) the General Insurance Corporation of India formed under section 9 of the General Insurance Business (Nationalisation) Act, 1972 (57 of 1972) and approved by the Central Government in this behalf; or
(b) any other insurer and approved by the Insurance Regulatory and Development Authority established under sub-section (1) of section 3 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999).]