DEDUCTION UNDER SECTION 80 D FOR HEALTH INSURANCE OF DEPENDANT PARENTS

POSTED BY bharat shah ON December 9, 2011 6:47 pm COMMENTS (3)

dependent parents has got a separate mediclaim policy with insured as father’s name and proposer’s name as a father’s name , can a son claim deduction under 80 D or any other section provided the premium is paid from son’ bank account? the receipts of premium payment from the insurance company is obviously in name of father.

3 replies on this article “DEDUCTION UNDER SECTION 80 D FOR HEALTH INSURANCE OF DEPENDANT PARENTS”

  1. Dear Bharat Shah, please feel free to discuss. I’m happy for the fact that I was able to help you out.

    Thanks

    Ashal

  2. bharat shah says:

    @ashal
    thank you very much for reply and supporting it dept. link. it also does not require parents to be dependents. thank you.

  3. Dear Bharat Shah, In my view the section 80D merely asks to pay the prem. & it does not ask who is the policy proposer. So for the given case, although the father is the proposer himself, still if the prem. is paid by the son from son’s own account, he may claim additional tax benefit meant for parents’ mediclaim policy apart from son’s own policy.

    Please check the following link for detailed info.

    http://law.incometaxindia.gov.in/DIT/File_opener.aspx?page=ITAC&schT=&csId=0b85b05a-ac9a-4a92-af0d-a7a4c9857274&rdb=sec&yr=e5be6bdb-1fc4-42d6-ac7b-34a44fd65485&sec=80&sch=&title=Taxmann%20-%20Direct%20Tax%20Laws

    Thanks

    Ashal

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