Medicalim deduction

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 July 2012 if son paid mediclaim amount from his account on behalf of father and mediclaim policy in the name of the father but cert. explained son paid premium on behalf of father.
in this case can son take a deduction under 80D.

CA RICHA BADALIA

CA RICHA BADALIA (Expert)
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14 July 2012 Yes he can claim deduction for mediclaim paid by him for his father subject to the limit and condition specified u/s 80D.

CA. Sunil Kumar

CA. Sunil Kumar (Expert)
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14 July 2012 Yes son can claim deduction u/s 80D

Further detail is as follows:-

This deduction is available for medical claim policy which should be framed in this behalf by GIC or by any other insurer but approved by IRDA

Deduction is available to
- Individual
- HUF

Mode of Payment - Other than cash
Dedection
himself/spouse/children - Max 15000 PA
parents - Max 15000 PA
Addition deduction for senor citizen - 5000PA

Hence if Individual Pay Rs. 16000 for himself and 20000 for parent than dedection would be 15000+15000 = Rs. 30000/-

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