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Mediclaim deduction u/s 80d
Dear Sir,
Pls clarify me the 80D deduction for mediclaim insurance. I have 4 family member. 2 member are under 60 years & 2 member are over 60 years. I have paid premium yearly Rs. 5,000 /- each for under 60 years member and Rs. 6,500 /- each for another member who is over 60 years. So, how much amount I will get deduction from my IT return?
Replies (3)
you can claim total paid amount of 23000 premium paid
as deduction allowed is 25000
you can claim deduction up-to 55000 provided you have paid so much under medication or health insurance. your entitlement is as per the ages of members covered and not how much amount you gave paid towards each member.
read mediclaim instead of medication.
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