diduction of 80D
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 May 2010
in this section diduction allowod on what basis. whom for payment made or the person who payment made.
03 May 2010
Deduction in respect of Medical Insurance Premia [Sec. 80D]:
Deduction is allowed for any medical insurance premium under an approved scheme of General Insurance. corporation of India, (popularly known as MEDICLAIM) or of any other insurance company, paid by any mode except cash, out of assessee’s taxable income during the previous year, in respect of the following:
For Whom Deduction u/s 80D is available:
(a) In case of an individual- Insurance on the health (health insurance) of the assessee, or wife or husband, or parents or dependent children.
(b) In case of an H.U.F.- Insurance on the health of any member of the family.
Amount of Deduction:
Maximum Rs.15,000 (Rs.20,000 in case any person insured is a senior citizen).
Deduction is allowed for any medical insurance premium under an approved scheme of General Insurance. corporation of India, (popularly known as MEDICLAIM) or of any other insurance company, paid by any mode except cash, out of assessee’s taxable income during the previous year, in respect of the following:
For Whom Deduction u/s 80D is available:
(a) In case of an individual- Insurance on the health (health insurance) of the assessee, or wife or husband, or parents or dependent children.
(b) In case of an H.U.F.- Insurance on the health of any member of the family.
Amount of Deduction:
Maximum Rs.15,000 (Rs.20,000 in case any person insured is a senior citizen).
03 May 2010
Maximum amount of deduction under section 80D can go up to Rs. 400000/- .
As medical insurance of parents is allowed in extra of spouse and dependent childrens.
Means Rs. 15000* for Family
+
Rs. 15000* extra for parents.
*where the person is of age 65 or more the amount would be 20000.
As medical insurance of parents is allowed in extra of spouse and dependent childrens.
Means Rs. 15000* for Family
+
Rs. 15000* extra for parents.
*where the person is of age 65 or more the amount would be 20000.
09 May 2010
agreed
09 May 2010
Agreed..
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
