How much is the Deduction under 80D for the Assessment Year 2009 - 2010 if the taxpayer is individual, if my parents are senior citizen what will be the additional deduction? can any one help me out......
3 Replies
CA Ravish Trivedi
(The Possibilities are Infinite...)
(772 Points)
Replied 13 September 2008
deduction u/s 80 D for the AY 2009-10 is available up to Rs.20000. This limit will increase by Rs.15000 if a senior citizen is covered .
Nikhil
(Consultant)
(29 Points)
Replied 11 March 2011
| Originally posted by : VIGNESH | ||
 |
How much is the Deduction under 80D for the Assessment Year 2009 - 2010 if the taxpayer is individual, if my parents are senior citizen what will be the additional deduction? can any one help me out...... |
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Hi
The maximum tax deduction one can avail on health insurance premium paid under sec 80D of the IT Act are as follows,
1. Health insurance premium paid for coverage of you and your family, the maximum tax advantage is Rs 15000
2. Health insurance premium paid for coverage of your parents, the maximum tax advantage is Rs 15000; Rs 20000 in case the parents belong to senior citizen category
Thus the maximum tax advantage you can avail when you buy health insurance in India is Rs 35000.
SANJAY
(CHARTERED ACCOUNTANTS)
(943 Points)
Replied 11 March 2011
Max deduction u/s80D is Rs.15000/- for for individual non senior citizen.. and if Senior Citizen's health insurance plan taken then you can avail 20000/- more for senior citizen.. So uoy can avail max deduction is 15000/-+20000/-=35000/-
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