Sec 80d clarification

Tax queries 801 views 5 replies

Mohan Kumar

Others

49 Points Joined December 2014

Sir,

I read somewhere that amount spent for health checkup etc (Rs 5000/- not sure about exact amount) are eligible for deduction under sec 80 D. Is it over and above eligibility of Rs 15000 given to self and Rs 20000 given for parents?

another doubt is about treatment of premium of health care policy. I paid Rs 10000/- premium for a health insurance policy. This policy is for me, wife, daughter and my mother (floater policy). so this premium i should consider under the 'self cap' of Rs 15000/- or is there a way i can consider part of it under 'parents cap' of Rs 20000/-? My parents are senior citizens

thanks in advance

Mohan

Replies (5)

kumaran

question

33 Points Joined December 2011

Mediclaim policy in d name of individual or his family (spouse and dependet child) maximum 15000/- can claim parents means (whether deppnd or not ) incase senior citizen 20000/- maxi alllowed You should show the breakup of both

Roshan Thomas

C.E.O

356 Points Joined November 2007

Since your parents are senior citizen you are eligible fortotal deduction of Rs 35 000. Since Rs10 000 paid for insurance covered your parents also you have balance rs 25,000 eligible deduction

CA Mitesh N Kothari

9821662799

391 Points Joined August 2013

You can Claim Deduction as follows

Premium of yours, spouse and dependent children Max 15000

Parents 15000 or 20000 ( Sr. Citizen)

In floater you have paid premium amount for your parents like Rs 5000 self 1250 spouse 1250 children 2500 for parents

So you can consider 7500 from your 15000 cap

and 2500 from 20000 cap.

Mohan Kumar

Others

49 Points Joined December 2014

Thanks sir. There was no exact bifurcation of premium between me/ wife/ child/parent. It was a part of a group policy facilitated by the employer for which i paid Rs 10000. in this scenario, how can devide this amount us. I have already bought health insurance more than Rs 15000/- for me, wife and children. However parents quota of Rs 20000/- (senior citizen) is not yet exhausted). so is there a way i can devide the premium paid Rs 0/- equally among 4 of us (me, wife, daughter, mother). In that case, I can mark Rs 2500/- in parents' head

thanks

Mohan