Medical inurance exemption 80-d

This query is : Resolved

RAVI KARTIK VERMA (Querist)
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26 February 2014 Hi, I have a query regaring Medical Ins exemption..Medical Ins premium paid by Individual is exempted if paid for dependent or Indepent parents..But if it paid by Parents for thier Indendent children then it will be exempted in d hands of Parents?? If not, then Independent children can claim that amount paid by Parents?? And what would be the scenario if premium paid by father in law for his independent daughter in law

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CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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04 March 2014 Premium paid for CHILDREN is NOT eligible for deduction u/s 80D.

Such premium can be claimed as deduction by the children.

RAVI KARTIK VERMA

RAVI KARTIK VERMA (Querist)
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05 March 2014 Even if premium is paid by parents from their taxable income??

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CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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05 March 2014 Section 80D provides deduction of premium only if it is paid for self, spouse or parents.

Even if the premium is paid by the parents, the deduction can be claimed by the children.