Section 80D mediclaim tax Exemption

POSTED BY RAJESH PAI ON April 2, 2012 2:45 pm COMMENTS (3)

Hi ,
I Purchased mediclaim policy oriental Happy Family Floater policy recently.
The policy period is 28/03/2012 to 27/03/2013. My question is Tax exemption will be considered for which year .Is it for 2011-2012 or for 2012- 2013
Thanks
Rajesh

3 replies on this article “Section 80D mediclaim tax Exemption”

  1. RAJESH PAI says:

    Thanks Ashal/JGMM for the Reply

  2. Dear Rajesh, the prem. date is well before 28-03-2012 & policy effective date is 28-03-2012, hence the applicable FY ‘ll be 2011-2012.

    thanks

    Ashal

  3. Tax exemption will considered on the date the policy is effective (some say payment date but then if the policy is not issued in the same financial year by any clerical goof up the tax exemption on that premium amount for the prev FY is really lost).

    Your payment is for the previous financial year 2011-12.

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