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Mediclaim policy of 2 years

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 July 2014 I purchase a health policy of two years in Jan 2014 by paying Rs.19,224. Policy is for self and wife valid till Dec 2015.

How much deduction I get in AY 2014-15 and AY 2015-16?
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
16 July 2014 You will get deduction of Rs 15000 in AY 2014-15 under section 80D. No deduction in AY 2015-16.
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Rupesh Jain

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Rupesh Jain (Expert)
16 July 2014 you take deduction in year in which you pay the premium up to Rs.15000/-
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Nischit Sanghavi

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Nischit Sanghavi (Expert)
16 July 2014 Deduction U/S 80C is available on payment basis. But limit of deduction upto Rs.15000 is applicable.
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Querist : Anonymous

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Querist : Anonymous (Querist)
17 July 2015 Thanks for response but section is 80D and not 80C as advised by expert

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