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80d

Ranjan Ghosh (Sr. Executive(F & A)) (30 Points)

24 February 2016

section 80D

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2 Replies

Sathish M (Management Accountant) (40581 Points)
Replied 25 February 2016

Deduction U/s. 80D of the Income Tax Act, 1961 in respect of Medical Insurance Premium (Mediclaim) paid, to keep in force insurance by individual either on his own health or on the health of spouse, dependent parents and children or paid by HUF on the health of any members of the family. From A.Y. 2016-17 it also include Medical expenditure incurred by assessee, being individual/HUF on the health of a very senior citizen person provided that no amount has been paid to effect or to keep in force an insurance on the health of such person

Chart Explaining Deduction U/s. 80D:-

For Individuals

Descripttion	Eligible Expense or Medical Insurance Premium paid in respect of		Total Deduction under Sec. 80D
Descripttion	Self, Spouse & Dependent Children	Parents (whether dependent or not)	Total Deduction under Sec. 80D
No-one has attained the age of 60 years
A.Y. 2016-17	Rs. 25,000	Rs. 25,000	Rs. 50,000
A.Y. 2015-16	Rs. 15,000	Rs. 15,000	Rs. 30,000
Assessee and his family is less than 60 years & parents are above 60 years of age
A.Y. 2016-17	Rs. 25,000	Rs. 30,000	Rs. 55,000
A.Y. 2015-16	Rs. 15,000	Rs. 20,000	Rs. 35,000
Assessee and his parents have attained the age of 60 years and above
A.Y. 2016-17	Rs. 30,0000	Rs. 30,0000	Rs. 60,000/-
A.Y. 2015-16	Rs. 20,000	Rs. 20,000	Rs. 40,000

For HUF

Eligible Expense or Medical Insurance Premium paid in respect of	Total Deduction under Sec. 80D
	A.Y. 2016-17	A.Y. 2015-16
Any one or more of The Member of HUF is senior Citizen	Rs. 30,000	Rs. 20,000
None of The Member of HUF is senior Citizen	Rs. 25,000	Rs. 15,000