hallo all,
Can you please tell me what is the Maximum amount of Deduction U/s 80d (Madiclaim). Whether 15,000 , 20000(When Parents are CC) or 30000
CA. Rajesh P. Ahir (In Service @ PSU) (687 Points)
04 February 2010hallo all,
Can you please tell me what is the Maximum amount of Deduction U/s 80d (Madiclaim). Whether 15,000 , 20000(When Parents are CC) or 30000
Ratan Deep Saxena
(Asstt Manager (Accounts & Finance))
(2998 Points)
Replied 04 February 2010
Rs. 15000/- in case of individual & Rs. 20000/- in case of parents are senior citizens.....
regards,
ratan
Amir
(Learner)
(4016 Points)
Replied 04 February 2010
Dear Rajesh,
Friend Ratan has rightly mentioned but aggregate deduction can be claimed upto Rs. 35,000/-
CA Vishal
(CA working in industry)
(620 Points)
Replied 04 February 2010
No The maximum deduction is 20K and not 35K .... The act states that incase parents are senior citizens then one acn increase the limit from 15K to 20K
CA Dhiraj Ramchandani
(CA, M. com)
(10823 Points)
Replied 04 February 2010
Hi amir is correct....
The language of 80D says :
Amir
(Learner)
(4016 Points)
Replied 04 February 2010
Dear Hello,
Take this case
Mr. A Pays premium for himself Rs. 15,000 + for his parents (senior citizen) Rs. 20,000/?
Now How much he can claim u/s 80D..
20K OR 35 K???
Definately 35K, Subsection (2) clearly states that deduction shall be the "AGGREGATE OF THE FOLLOWING AMOUNTS.........."
CA Dhiraj Ramchandani
(CA, M. com)
(10823 Points)
Replied 04 February 2010
So, the basic dedcution available to person for himself is 15000/20000 (as per his age)....
But, he can also avail another additional deduction for his parents, is also available for deduction....
Amir
(Learner)
(4016 Points)
Replied 04 February 2010
Dear Dhiraj,
Ya now u r rite, I understand, sometimes these little things causes confusion.......
CA Dhiraj Ramchandani
(CA, M. com)
(10823 Points)
Replied 04 February 2010
Yeah, initially i too thought that its just 20000..... but then remembered that we do file various returns and all... in that we ourselves allow assessee such deduction, then how can i deny overhere...
Nywz, thanx fr ur gesture
C.Balaji
(Learner)
(1867 Points)
Replied 04 February 2010
Completely agree with Mr.Amir and Mr.Dhiraj
Rs. 15000/- in case of individual & Rs. 20000/- in case of parents are senior citizens.....
Mr.Amir i have a small query in this....
is the maximum limit is only Rs.35000 or Rs.40000???...when both the assessee and parents are senior citizens...
C.Balaji
(Learner)
(1867 Points)
Replied 04 February 2010
Mr.Amir
One more query...
Rs. 15000/- is maximum available to an assessee even he is a senior citizen....
Amir
(Learner)
(4016 Points)
Replied 04 February 2010
Dear Balaji,
U r rite that if assessee as well as his parents are senior citizen then maximum deduction can go upto Rs. 40,000, but my friend that is very remote case....
C.Balaji
(Learner)
(1867 Points)
Replied 04 February 2010
Mr.Amir Brother....but still possible right....so maximum Rs.40000/-....right....
CA Dhiraj Ramchandani
(CA, M. com)
(10823 Points)
Replied 04 February 2010
Hi balaji....
Suppose assesse is of age 66 Years and his father could be possibly of 90 Years...
Then ofcoarse, the deduction available is Rs. 40000 to assesee....
C.Balaji
(Learner)
(1867 Points)
Replied 04 February 2010
Thanks Diraj...
I just wanted to know the maximum amount.....
Assessee -70 - father - 100....still possible...
Live Course on Invoice Management System (IMS) - 2nd Batch(With Recording)