Gautam Khanna (24 Points)
04 September 2017What shall be the deduction allowable under section 80D in the following case:
Medical insurance premium paid by cheque-
Is the answer Rs. 55,000 (i.e. 25,000+30,000) or Rs. 53,500 (25,000+28,500)?
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 04 September 2017
Just claim Rs. 50000/-
sunil reddy
(CA articleship)
(44 Points)
Replied 05 September 2017
Gautam Khanna
(24 Points)
Replied 05 September 2017
The deduction in respect of "assesssee and his family" will be Rs. 25,000 because none is a senior citizen. I agree with this.
But in respect of parents, total medical premium is 30,500 [27000+3500].
if either of parents is senior citizen [in my case father is above 60 years] so this limit should be 30,000.
The deduction should be lower of 30000 or 30500=30,000
But should deduction be only 28,500 in respect of parents or full 30,000 is allowed?
Is the limit of non senior citizen individually applicable or just in aggregate.
Whether the rule is:-
(a) Maximum limit on senior + non senior citizen is 30,000
OR
(b) Maximum limit on non senior citizen is 25,000 and, maximum limit on senior+non senior citizen is 30,000
I am particularly confused whether the limit on non senior citizen is individually applicable to them as 25,000? Or only aggregate limit shall be effective i.e. 30,000?
Kiran. S
(CTO)
(745 Points)
Replied 05 September 2017
My view is
1) For self, Spouce and children - Rs 25000
2) for Senior Citizen Father - upper limit Rs 30000 so upto 15000 - actual spent is Rs 3500.
3) For non- Snior citizen 25000/2 = Rs12500.
So total 25000 + 3500 +12500 = Rs 41000
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 05 September 2017
Gautam Khanna
(24 Points)
Replied 05 September 2017
Raja sir
Explanation to section 80D states "senior citizen" means an individual resident in India who is of the age of sixty years or more at any time during the relevant previous year
so by interpretation, the individual being referred to is the person on whose behalf mediclaim premium is being incurred, and not the assessee himself.
Gautam Khanna
(24 Points)
Replied 05 September 2017
Kiran maam. there is no such provision to do half as you have done!
Kiran. S
(CTO)
(745 Points)
Replied 05 September 2017
Sorry the correct position is
Category self,Spouce and children Parents Total Ded
No one is senior 25000 25000 50000
Parent senior 25000 30000 55000
All Senior 30000 30000 60000
Satyajit Jena
(11 Points)
Replied 05 September 2017
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
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