How much Tax deduction can I get under 80D (Medical Premium) ?

POSTED BY Sambaran Mitra ON January 21, 2014 8:30 pm COMMENTS (3)

I pay around 10000 INR for medical insurance premium of parents. (Both parents aged > 60)

I pay around 25000 INR for medical insurance premium for me/spouse/kid. (all of the three aged < 60)

How much tax exemption can I claim under 80D?

 

3 replies on this article “How much Tax deduction can I get under 80D (Medical Premium) ?”

  1. ashalanshu says:
    January 21, 2014 at 9:04 pm

    Dear Sambaran, the wording is very clear in section 80d. if it’s your own policy 15K prem. amount. For Parents, the amount ‘ll be 20K in your case being Sr. citizen but as the actual prem. amount is 10k only, you can claim that much only.

    thanks

    Ashal

    Reply
  2. Sambaran Mitra says:
    January 21, 2014 at 8:52 pm

    Will I not be limited by any 20000 cap? The wordings in tax-section are very confusing.
    Ashal, can you please share the source of your information?
    Thanks a lot for taking the effort to answer.

    Reply
  3. ashalanshu says:
    January 21, 2014 at 8:45 pm

    Dear Sambaran it ‘ll be 15000 Rs. for your policy and 10000 Rs. for parents’ policy. Hence a total of 25000 Rs. only.

    thanks

    Ashal

    Reply

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