POSTED BY July 31, 2012 2:14 pm COMMENTS (7)ON
Dear Jagoinvestor (Manish),
Your article https://www.jagoinvestor.com/2012/03/budget-2012-summary.html is very informative and enlightening. It carries many subtle points that are routinely missed, e.g., to qualify under Section 80C, the yearly insurance premium must be less than 10% of Sum Assured.
I have a doubt regarding the new 80D rules. Suppose I am salaried and have senior-citizen parents (dependent on me). Suppose I spend Rs. 5000 towards preventive health care for myself, and another Rs. 5000 for them. Can I shield both amounts, 5+5, from Tax under the new 80D rules?